Academy pupils learning how to manage their money

Children from Acre Rigg Academy in Peterlee have been taking part in lessons on finance with help from the Yorkshire Building Society.

Staff from the company went along to the school to deliver the new financial education programme.

Year 6 pupils were taught a Money Minds session on budgeting and costing through planning a party by colleagues from the society’s branch in Sunderland.

Money Minds is a free programme consisting of a series of activities and projects designed to promote discussion and learning among children and young people aged five to 19 of all abilities.

Mandy Kutahya, Yorkshire Building Society’s customer consultant in Sunderland, said: “Learning how to effectively manage finances is a vital life skill.

“It was great to see how engaged the pupils from Acre Rigg Academy were during our Money minds lesson.

“The session enabled them to test and expand their vocabulary and understanding of money through fun activities.

“We’re committed to supporting schools such as Acre Rigg Academy in teaching financial education and hope that our Money Minds programme will help to improve financial capability in the UK.”

Topics range from keeping money safe for ages five to seven, planning a party to learn budgeting skills for children aged eight to 11, up to calculating interest and responsibilities to repay loans for older children.

Nicola Mayo, deputy headteacher and Year 6 teacher at Acre Rigg Academy, said: “The staff from Yorkshire Building Society who delivered the Money Minds session to our Year 6 students were excellent.

“Our pupils really enjoyed the lesson and were engaged by the real-life context of the course materials. I would love to see the programme being delivered to some of our younger pupils.”

The activities seek to build decision making skills, team working abilities and practical maths knowledge as well as financial literacy.

Money Minds lessons are delivered by Yorkshire Building Society colleagues as part of their award-winning corporate volunteering scheme, which allocates each employee 31 hours’ paid leave every year to carry out volunteering in local communities.