St Antony's works closely with the Shadsworth and Whitebirk Big Local, who received lottery funding to raise financial awareness in the community.
Our children receive financial education in the form of tailored lessons delivered by DebtAware. Children in Year 5 and 6 are trained as 'money mentors' and deliver sessions on budgeting, 'wants' versus 'needs,' borrowing money, interest and savings.
Financial education is an invaluable life skill for our children. The lessons are delivered in a fun and accessible way using materials provided by the DebtAware Foundation.
Our Money Mentors' Top Tips!
*THE NEW £1 COIN
The new £1 was introduced on 28th March 2017. They are 12 sided and have been introduced to beat fraud as 3% of the old £1 coins in circulation were counterfeit.
After 15th October, the old £1 coins will no longer be legal tender, so send them before that date or cash them in for a new coin!
Have a look for the 'Edinburgh' £1 coin as it is worth a lot of money. It was printed in 2011 and only 935,000 were minted. This is not many when tens of millions of £1 coins are minted each year.
The coin has a design of Edinburgh Castle on the reverse and the word EDINBURGH will appear above the image with the Latin phrase NISI DOMINUS FRUSTRA along the edge. Loosely translated it means: 'without the Lord, (all is) in vain.'
Did you know?
The average driver pays just over £600 per year for their insurance with someone under 25 paying an average of £1400!
As car insurance is always rising, here are a few tips:
*Add a responsible 2nd/3rd driver to your policy. car insurance is all about risk so add a low risk second driver. this will be linked to age, driving experience and history. this will reduce the cost of your premiums.
*Beware of paying monthly. The insurance companies add a large amount of interest on monthly payments. If you can't afford to pay immediately, pay by credit card on a low interest rate and clear it within the year.
*Don't just renew with the same company. Use comparison websites and then call your insurer to see if they can match the lowest you have found. three of the best sites are Confused, MoneySupermarket and Go Compare.
*Don't make changes or modifications to your car, such as fancy alloys, spoilers etc. These add onto the price of your insurance but do tell the insurer if you have made these changes.
Why do we need financial education?
“Why can’t young people just pick up money skills as they go along? We all managed.”
Every day, Debt Advice Foundation advises people who are struggling with debt, that have fallen prey to financial fraud, been overcharged for financial services or have been sold products and policies they don’t need.
Personal finances are not simple – managing a family budget is like running a small company. You have to take it seriously, set aside time every month to check that you are still in control.
DebtAware believes that if children start learning the basics at an early age, they will be confident about managing money as they grow up.
If they understand why it makes sense to save for things you want but don’t need, what borrowing means, how credit works and the risks involved, they are less likely to fall into serious debt.
And we think that will benefit everyone.