interactive investor unveils new research on financial education as it continues hunt for Britain’s best money teachers.
- Half (51%) of UK adult population say they had an inspirational teacher at school
- 76% of these said they would like to say ‘thank you’ to their inspirational teacher if they met them today
- Two-thirds (66%) of these would like younger generation to be taught more about personal finance – ahead of other important life skills such as home economics, sex education, and foreign languages
- More women (73% vs 58%) than men want personal finance taught at school
- interactive investor is on a mission to celebrate Britain’s best money teachers for its Personal Finance Teacher of the Year Awards 2023
Ahead of National ‘Thank a Teacher Day’ on Wednesday 21 June, interactive investor, the UK’s second-largest investment platform for private investors, reveals that 51% of the general public had an ‘inspirational’ teacher at primary of secondary school, leaving an enduring impression years later.
Two-thirds (66%) of these would like younger generations to be taught more about personal finance at school.
The research of 2,000 people across the UK was conducted in May by Opinium on ii’s behalf. Of the half of the general population who say they had an inspirational teacher(s), 76% said they would like to say ‘thank you’ if they met them today.
The research findings demonstrate the important role teachers play in equipping younger generations with those vital life skills they need to navigate some of the challenges we face in later life.
interactive investor found that half of the general population who said they had an inspirational teacher, it was often based less on the academic side of school life, and more on instilling self-belief, resilience and kindness. So, it’s interesting to see how this sample view the non ‘core’ academic subjects.
Personal finance comes top
When questioned about the types of life skills they would like younger generations to be taught more of at school, personal finance ranked the highest (66%). As the cost-of-living crisis continues to bite, affecting millions of people in the UK, many are having to adjust household budgets and utility services, and reassess high costs and charges associated with savings, investments, and pensions. Learning about these important subjects at an early age equips us all to better manage money matters in later life – especially during tough times.
The other life skills that ranked lower in popularity than personal finance were home economics/food tech (52%), staying safe online (48%), DIY (42%), relationships and sex education (38%), foreign languages (36%), and computing and programming (32%).
Help ii find the UK’s best money teachers
In recognition of the fact that many Brits would like to see household budgeting, savings and investments, and pensions taught at school by teachers who inspire us, interactive investor is on a mission to find and recognise Britain’s best money teachers for its interactive investor Personal Finance Teacher of the Year Awards 2023. The awards are open to teachers and – for the first time in these awards – teaching assistants who all play such an important role inEngland, Scotland, Wales and Northern Ireland.
Personal finance is still a relatively small part of curriculums across the UK, but the skills taught are vital. Through this award, ii is on the lookout for teachers and teaching assistants who are delivering lessons with imagination and skill.
This is one of the most prestigious awards to recognise creative money education, with a prize of £25,000 to be shared among the winning teachers’ schools across the UK.
Covering both primary and secondary schools, past winners have come from a diverse range of schools, including special educational needs schools. This is something ii is keen to point out, given young people with SEND are more at risk from escalating online financial scams, according to Young Enterprise.
More on the research
While personal finance was the top life-skill topic choice across both sexes, the research ii conducted also found a stark difference between male and female respondents in their desire for personal finance to be taught more in school with 58% of the males saying they would like personal finance to be taught compared to 73% of women.
It seems age is also an important factor in the importance we attach to the topic of personal finance with 78% of those over 55 highlighting it as most important, compared to 66% of those between the ages of 35 to 54, and 52% of respondents aged 18 to 34.
Myron Jobson, Senior Personal Finance Analyst, interactive investor says: “Young people tend to be highly interested in money concepts, and they certainly like spending it, given half a chance! We know anecdotally that in some schools, pupils are actively asking for more money lessons, and it seems older generations agree. But even we were surprised with the overwhelming preference for money lessons to be taught in school ahead of other really important topics. It shows how important things like household budgeting, savings, investments, and pensions are at a time when the nation needs to build long-term financial resilience, and when a cost-of-living crisis makes that tougher for many.
“Good money skills – especially in challenging economic times – are essential. And those inspirational teachers who arm our young people with the knowledge they’ll need to make better financial decisions as they enter adulthood deserve recognition and our thanks.”
How to enter the awards
To nominate a teacher or teaching assistant, parents, carers, or pupils should email email@example.com with the teacher’s name along with the name and address of the school, by 11 September 2023. We will then approach the teacher and ask them to submit their lesson plan and brief supporting statement by 29 September 2023.
Topics might include budgeting, investment, cash savings, interest rates, credit, and much more, from reception right the way up to sixth form.
Teachers can also nominate themselves, by emailing firstname.lastname@example.org with a lesson plan and supporting statement by 29 September 2023. Teaching assistants are also asked to submit evidence of how they have helped communicate money concepts to pupils, and they may also share lesson plans.
See the notes to editors for the terms and conditions.
Notes to editors
About the research
Research was carried out by Opinium Research between 16 May and 19 May 2023 with a sample size of 2000 UK adults.
Personal Finance Teacher of the Year – Competition Terms and Conditions
The competition is open to all qualified teachers employed at a primary or secondary school in the United Kingdom (and Teaching Assistants employed at a UK school for the Teaching Assistant category), but nominations can be made by anyone who is resident in the UK (including parents, guardians, and pupils).
How to enter:
Nominations can be made by anyone (including parents, guardians, and pupils) who is resident in the UK.
To nominate a teacher or teaching assistant, parents, carers, or pupils should email email@example.com with the teacher’s name along with the name and address of the school, by 11 September 2023. We will then approach the teacher and ask them to submit their lesson plan and brief supporting statement (teachers will need to submit this by 29 September 2023).
Teachers and teaching assistants can also nominate themselves, by emailing firstname.lastname@example.org with a lesson plan and supporting statement by 29 September 2023.
Only one entry may be submitted by any person.
The following prizes will be awarded to schools:
Personal Finance Teacher of the Year (primary school)
Personal Finance Teacher of the Year (secondary school)
New category: Personal Finance Teaching Assistant
Runner-up prizes, special Judges' Awards and Highly Commended prizes may be awarded at the judges' discretion. The full prize money will total £25,000 to be shared across winning schools.
Prize money will be awarded to the school.
interactive investor Services Limited reserves the right to alter, withdraw or amend this competition at any time.
Winner selection and notification:
The winners will be selected by a panel of judges selected by Interactive Investor Services Limited. Judging will be on the basis of the lesson plans and supporting statements supplied.
The winners will be notified by mail, email, telephone or in person as soon as reasonably practicable after the judges have made their decisions. The notification will include details of how the prize can be claimed.
In the event that a winner does not accept their prize, Interactive Investor Services Limited reserves the right to select an alternative winner.
The winners consent to the use by Interactive Investor Services Limited of the winner's name, and school name and town/City, for the sole purposes of announcing the winners. By claiming the prizes, all winners consent to the same.
Winners consent to their photos, names and the name of their school being used by interactive investor. By claiming the prizes, all winners consent to the same.
Winners consent to their photos, names and the name of their school being used by other media unconnected with interactive investor. By claiming the prizes, all winners consent to the same.
By allowing their nominations to be considered by the judges, all participants agree to be bound by these terms and confirm that the decision of Interactive Investor Services Limited is binding.
The competition will be governed by English law and entrants to the competition submit to the exclusive jurisdiction of the English courts.
The competition is run by Interactive Investor Services Limited, 201 Deansgate, Manchester, M3 3NW.
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