PSHE subject association's resonse to Child Trust Funds

The PSHE Subject Association welcomes the Secretary of State’s announcement of additional funding for financial capability. This aspect of the curriculum is a fundamental part of PSHE education. However, the association is committed to ensuring that financial capability is includes a consideration of the personal, social and emotional aspects of money management. This means that it must be considered in the context of both the personal well being programme of study and that for economic wellbeing and financial capability.

It is clear that many people accumulate excessive levels of personal debt because of social and emotional situations rather than a lack of knowledge of financial services or poor mathematical skills (important though these are).  Equally, the way in which young people eventually spend their child trust funds will be influenced by social and emotional issues as well as mathematics ability and knowledge of financial services.

However the additional funding is deployed it must ensure that teachers and others involved in supporting young people’s learning are able to support both the development and understanding of attitudes, values, feeling, emotions and skills and knowledge and understanding in relation to financial capability. This will include enabling them to identify and use effectively and appropriately sources of help and advice outside the school, for example, from volunteers from the financial sector.

The PSHE Subject Association will work in partnership with specialist organisations such as pfeg (the Personal Finance Education Group) to promote effective financial capability through well planned and implemented PSHE education.