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Money savvy pupils lead the way

PUBLISHED: 10:20 20 March 2008 | UPDATED: 10:39 03 July 2010

A MARTHAM high school is leading the way in teaching pupils how to better manage the money.

Flegg High School has been praised for the way it helps prepare youngsters for the world of bank accounts, credit cards, pensions, insurance and mortgages, by education watchdog Ofsted.

A MARTHAM high school is leading the way in teaching pupils how to better manage the money.

Flegg High School has been praised for the way it helps prepare youngsters for the world of bank accounts, credit cards, pensions, insurance and mortgages, by education watchdog Ofsted.

The school is one of 18 featured in Ofsted's report on personal finance education, Developing financially capable young people, which shows that delivering better teaching of personal finance education in schools can equip students with the right mix of skills and attitudes to help them manage their finances sensibly.

It can also help ensure that students will benefit - rather than be excluded from - financial services when they leave education and give them the confidence to successfully navigate the financial market - from pensions to who to bank with.

Headteacher Cherry Crowley said: “We have improved the coherence of our provision and our entitlement for all young people in terms of financial education. The new business studies course we have designed for key stage 3 includes personal budgets, banking and consumer debt. Our mathematics team train year nine leaders to design and deliver on enterprising mathematics for year one pupils around the theme of a children's party.

“We are particularly proud of our recent success in the fantasy share league organised by the Norfolk Exchange. In 2007 we were regional winners following on from our appearance as national finalists in 2006.”

Pupils in schools that are already teaching personal finance skills successfully showed a good understanding of the issues. They were able to use financial terms correctly and apply their knowledge to making financial decisions.

The report showed that pupils did best when teachers had a confident grasp of the subject, skilfully managed discussions, used outside sources of information effectively and set tasks that engaged pupils according to their age and ability.

The main barriers to developing personal finance education were pressures on curriculum time; teachers' lack of subject knowledge and expertise in the area; a lack of awareness of available resources or other forms of support for the subject and the very wide variation in the nature of post-16 provision.

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