Money for Life in Essential Skills education

In partnership with ColegauCymru/CollegesWales

Focus group members

Barry College, City & Council of Swansea, Coleg Harlech, Merthyr Learning Centre, Neath CAB, Neath Port Talbot College, Pembrokeshire College.

Aim

To improve money management among learners, including vocational training and foundation students, by developing a dedicated programme of financial capability tutorials to complement Essential Skills education.

Background

Essential Skills is the Welsh Assembly Government’s strategy to help young people and adults who struggle with basic literacy and numeracy.

Action

The objective of the focus groups was to improve learners’ understanding of budgets, and to help participants make the most of the money they have, partly through adopting spending habits that can improve their personal financial circumstances.

The focus group carried out preliminary work including drop-in sessions and questionnaires to identify the needs of the target learners. This helped determine what they most wanted to know and how they would prefer to learn. The information gathered led to the development of tailor-made teaching resources and session plans.

Focus group members worked with a range of learners that might benefit most from money management skills. Some of the participants were young parents, often unemployed or earning low incomes. Others struggled with mental health problems, drug and alcohol dependencies, and in some cases homelessness. Most admitted to having problems handling their finances.

Outcome

The project offered an opportunity to identify areas of concern for the target group and tailor resources to their needs. For example, the need for ‘stand alone’ sessions was highlighted to help learners balance them with other commitments.

The experience of the focus group members shows there is a need to build greater financial capability teaching into Essential Skills sessions. There is also scope to liaise with money management specialists that can work across the community education sector.

The learners responded well to sessions that included games, interactive tasks and resources, and many have asked for follow-up events. Feedback showed there was improved awareness of financial issues and some behavioural changes among participants.

Testimonials

Learner at Neath Port Talbot College
“I’d never seen a budget before – it’s really useful and I will use one every month from now on.”

June Jenkins, Essential Skills manager at Barry college
“Without this project, financial capability would not have received the attention it has.”