Evidence type: Evaluation i
Information about the programme design and rationale
Evidence about Financial Capability outcomes for programme participants
Evidence that the Financial Capability outcomes were caused by the programme
Evidence about programme implementation, feasibility, and piloting
Evidence about relative costs and benefits of the programme
Money Twist aims to provide young people with real life money skills through a series of hands-on workshops. With versions for Key Stage 3 (11-14-year-olds) and Key Stage 4 / 5 (15–18-year-olds), the interactive sessions build upon young people’s knowledge of basic finance and help them engage with money. The programme is five hours in length and split into three 100-minute sessions. Sessions can be run concurrently or on rotation.
The programme is predominantly delivered in secondary schools and sixth-form centres, as well as by youth organisations, and meets the financial capability requirements of the Citizenship, Maths and PSHE (Personal, Social and Health Education) curriculum.
The programme covers:
Money Twist KS3
Money Twist KS4/5
Between August 2010 and August 2011, Money Twist was delivered to 2,862 young people in multiple institutions in Lambeth, London.
Oxford University Consulting undertook an evaluation of the delivery and impact of several MyBnk programmes, including Money Twist. This involved data collection pre- and post-programme for participants and a comparison group of young people with similar characteristics from a school in a neighbouring borough.
Follow-up qualitative research was also conducted with a small number of participants eight months after completing the programme to assess knowledge retention.
Process learning identified by the study included:
The evaluation found that positive outcomes were achieved in relation to:
Financial capability (mindset): participant attitudes, values and self-belief in relation to money.
Financial capability (ability): knowledge about money and the financial system had the greatest increase compared to the comparison group; an increase was also observed in skills.
Qualitative follow-up research suggests that key knowledge had been retained by at least some of the participating young people. This qualitative research with young people and teachers provided feedback on the value of the programme as well as exploring the reasons why the impact was achieved.
Steve Korris Quality and Training Director MyBnk Steve@mybnk.org