Principality Building Society is to invest £60,000 to help provide more than 1,500 Cardiff secondary school children with financial education.
The project will see £5,000 allocated to each participating school, with lessons to include household budgeting workshops, financial planning, insurance, pensions, as well as preparing students for adulthood and the world of work.
Principality has already helped more than 10,000 secondary students in Wales as part of the Business in the Community Business Class program since 2016.
The qualifications children can gain include the Level 1 Lessons in Financial Education (LiFE) and the Level 2 Certificate in Financial Capability and Career Development – which is equivalent to an extra GCSE and provides the students with UCAS points. Both qualifications are provided by the London Institute of Banking and Finance.
Steve Hughes, CEO at Principality Building Society, said:
“It’s more important than ever to be teaching our children and young people about finances, giving them the knowledge and skills to both appreciate money and manage it effectively as they grow up.
“We have a role to play in supporting our hard-working schools in helping to prepare children for life as adults and working life. I’m delighted we’re able to support schools in Cardiff and giving more young people the opportunity to gain finance qualifications.
“Principality colleagues across Wales see helping their local schools as an important way of immersing themselves in their communities. It’s what we stand for – helping people prosper at every stage of their lives and across all generations of families.”
Principality is also working with the Young Money charity – providing more than £35,000 of funding to help Ysgol y Strade in Carmarthenshire and Ysgol Nantgwyn in Tonypandy become Centre’s of Excellence in Financial Education.
Since 2017 the Society has helped more than 3,000 primary school pupils as part of Talk Money Week, with staff going into schools and delivering numeracy lessons along with launching a book called Goose’s Cake Bake – which teaches children how money can be used for good causes.
In 2018 Principality Building Society was named as Responsible Business Awards – Education category winners for its long-term support to schools across Wales.