Justin Tomlinson MP backs Money for Life programme to support learners in Swindon to tackle
the financial education gap amongst struggling Further Education, Adult and Community Learners
Justin Tomlinson MP is supporting a financial capability and personal money skills programme, Money for Life, targeted at Further Education (FE), Adult and Community learners in Swindon. The programme aims to deliver vital financial capability learning where it is needed most. It equips practitioners – such as tutors and advice workers - across the UK with tailored resources to improve their confidence and knowledge of financial issues, products and services and enables them to pass on that knowledge to learners and community groups.
Money for Life has facilitated the sharing of best practice through a series of focus groups across the UK looking at the needs of specific types of learners. Types of learners focused on by the groups were: ESOL learners, learners at risk of becoming NEET, migrant workers, work-based learning apprentices, access learners, work-based learners, young parents, young offenders, students attending outreach centres and students in vocational learning. Focus groups also took place which looked at providing financial capability coaching and skills through community networks.
Commenting, Justin Tomlinson MP said: “It’s vital that we help the learners in our community by equipping them with the money management skills they need to help them every day and for years to come. In this difficult economic climate, we must do all we can to enhance people’s prospects and give them the financial support they need. I’m supporting Money for Life in Swindon, to promote financial capability and provide resources to help people in our community to feel confident in managing their finances.”
Claire Francis, Moneysupermarket.com said: “I see stories about the need for financial education in communities across the UK on a daily basis. It is great to see a programme like Money for Life provide practical solutions to improve skills and leave resources for the future, that people will continue to benefit from. “
Graham Lindsay, Financial Inclusion Champion and Lloyds Banking Group Director, Business Design and Integration, Lloyds TSB and Bank of Scotland Community Bank, said: “As the UK’s leading retail bank, we see it as our responsibility to promote financial inclusion and financial capability in the communities where we work. We need to help people to gain the skills and confidence to manage their daily finances and to plan and save for the future.”