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
Financial education does not currently feature on the primary national curriculum. An Inquiry into Financial Education Delivery in Schools, (undertaken by the All Party Parliamentary Group on Financial Education for Young People in 2016), highlighted the need to start financial education at a younger age. MyBnk’s Primary Money Twist Programme, supported by KickStart Money (KSM), sought to address this by raising children’s awareness of the effects of money habits, and their ability to develop positive habits. The programme was also designed to give children confidence discussing money with their peers and parents. MyBnk’s expert trainers delivered short, fun and varied workshops across three, 75-minute modules in primary schools. The project also provided resource packs for teachers and parents. MyBnk agreed a target with KickStart to deliver sessions to 18,000, 7-11 year olds across the three year programme. The target areas were: London and the surrounding area, South of England, Liverpool, North West England and Scotland.
Conducted by the Tax Incentivised Savings Association (TISA), the external evaluation was designed to answer the following research question:
‘What impact does the programme have on the financial attitudes and indicators of financial behaviour of children aged 7-11?’
The evaluation assessed the extent to which the intervention achieved the following outcomes:
The evaluators collected data from the first delivery year, between September 2017 – March 2018. The mixed methods evaluation included:
The intervention had a positive impact across all three outcomes. This was more pronounced in relation to delayed gratification (outcome one) and basic concepts (outcome two) than for future plans (outcome three). For some measures, a high proportion of pupils (ranging from 66% to 89%) showed understanding of concepts prior to training. Pupils with a lower understanding of key concepts at baseline were examined as a separate group, and showed the most significant rates of improvement, confirming the training was not just ‘preaching to the converted’.
Overall, participants and their teachers gave positive feedback on delivery styles and project processes. In particular, teachers valued the delivery pace and mix of teaching methods (group activities, quizzes, paired work, individual challenges and video content). Teachers commented that their pupils benefited from the specialist financial education training. Pupils identified the mix of delivery methods and the trainers’ fun delivery styles as central to their enjoyment and learning experience.
Good partnerships were built with primary schools that assisted with behaviour management, administration and data collection.
Dr. Kath Edgar (Kath.firstname.lastname@example.org)Substance Ground Floor, Canada House Chepstow Street, M1 5FW