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
The Money Charity’s ‘Workshops in Schools’ cover aspects of money and finance and aim to increase students’ knowledge, confidence and skills in relation to money matters. They are delivered in hour-long sessions to classroom-sized groups by trained consultants.
During the autumn term of 2017 and early spring term of 2018, a total of 109 Money Workshops were delivered across schools, in areas of England, Wales and Northern Ireland where workshop consultants are based. A total of 4,423 students were booked onto these workshops. The trial focused on workshops on planning and budgeting (Workshop A) and savings and credit (B) at KS4; and student finance (A) or independent living (B) plus a workshop on savings, credit, banking and insurance (C) at post 16. Most schools took part in one workshop only (mainly Workshop A at KS4 and Workshop A at post 16). The Money Charity recruited and trained ten new consultants to deliver the workshops, and provided refresher training to five established consultants.
This study aimed to explore the causal impact of the workshops on Key Stage 4 (KS4) and post-16 students’ behaviour, attitudes, confidence and knowledge relating to managing money. It also aimed to explore the quality and effectiveness of the workshops, the conditions necessary in schools to support the workshops, and the scalability of the approach.
The evaluation comprised a school-level randomised controlled trial (RCT), where schools that signed up to the trial were randomly allocated to either the intervention group (with workshops in autumn term 2017 and early spring term 2018) or the control group (as part of a ‘waitlist’ design, with workshops in spring 2018 after they had completed a follow-up survey).
A total of 59 schools took part in the trial, 30 intervention schools and 29 acting as controls. 3,543 students completed a baseline survey (developed as part of this evaluation); and 2,438 completed a follow-up survey (1,679 of whom had also completed the survey at baseline and were used in the ‘matched’ outcome analysis). As fewer schools than originally anticipated joined the trial, a combined analysis of KS4 and post-16 students was carried out to enhance the power of the analysis.
A process evaluation was also conducted involving:
The main outcome explored whether The Money Workshops made a difference to students’ behaviours and attitudes towards money. Five secondary outcomes were:
Methodological strengths and limitations:
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