Information for Parents
This section of the site informs parents what My Money means for them and their children.
What is personal finance education for?
The aim of personal finance education is to prepare young people to leave school with the confidence, skills and knowledge they need in financial matters so that they can participate fully in society.
What is My Money?
My Money is one way in which personal finance education will be delivered in schools. This project has been created by the Government to provide a completely joined-up approach to financial education – starting when a child first starts school and continuing right through the transition to working life or further and higher education.
My Money Week is part of this initiative and is a nationwide event that takes place in the Summer Term. It provides lots of opportunities for the children to take part in activities which will help them learn about personal finance.
Why is it important to get parents’ support?
Discussions about money within family contexts have a huge range of benefits for pupils. Parents and carers are in a unique position to aid their children’s understanding of finance – they can give examples of how it’s managed in a household and can answer questions that are inappropriate to ask in other situations.
Many of the financial issues discussed in school, for example pocket money, savings and planning for a holiday, are based on connected activity between pupil and parents. Parents provide a pool of first-hand experience in financial matters, including budgeting, saving, managing debt, planning for capital purchases, judging value for money, preparing for life after work and living on a high or low income.
Parents’ guides
Free My Money Parents’ Guide PDFs – one for parents of primary pupils and one for secondary parents – are available to download from this page. Please click on the guide you would like to download it now.
The guides include information on:
- why children need to understand money
- what personal finance education and the My Money project are
- what pupils will be studying at school
- how parents can support their children’s learning.