Year 13 students Obtain Money Ready- Level 1 Personal Money Management Qualification

A financial literacy workshop run by Money Ready, the financial education charity was recently completed by Year 13 students to help prepare them for independent adult life. This comprehensive Level 1 qualification equipped students with essential money management skills relevant to life while undertaking either higher education, apprenticeships, or joining the workforce.

The curriculum covered practical financial topics such as navigating employment income, understanding tax deductions, and mastering the complexities of budgeting and banking. Furthermore, students examined the legalities of housing, the mechanics of credit, and critical consumer protection rights. By addressing modern risks like gambling, the programme also aimed to ensure these young adults avoid common debt pitfalls. Overall, the course aimed to provide information to allow students to achieve long-term economic stability through a structured but real-world educational program.

The full like of qualifications included in the modules are:

• Income: Sources of income, employment and self-employment and employee rights.
• Deductions: Reading a payslip, taxes, National Insurance, student loans and pensions.
• Spending: Household costs, comparing products, and ways to pay.
• Budgeting: Planning a budget, adjusting for expenses, and saving.
• Banking: Choosing the right accounts and understanding savings.
• Borrowing: Credit scores, loans, debt management, and avoiding pitfalls.
• Housing and tenancies: Managing rent, utilities, and tenancy agreements.
• Consumer rights: Understanding legal protections to avoid financial loss.
• Gambling awareness: The risks and impacts of gambling on finances.