As part of this programme we’ve worked with nearly 3,850 Year 9, 10 and 11 students at schools close to our offices.
HOW IT WORKS
Volunteers from Legal & General and our businesses partners (Blufin, Jelfs SAGA) support the professional facilitator from Magnified Learning in the classroom, working with the students in small groups to help them start thinking about money in the real world.
Discussions include things like:
what might I expect to earn in my first job?
how much will I lose in deductions?
if I move out of home how much will it cost me?
We’ve gained a valuable insight into the attitudes of the next generation to money and savings. This helps us understand the implications for our marketplace, and how relevant our products are to potential future customers.
WHAT HAS MONEY, MONEY, MONEY DELIVERED?
95% of pupils who’ve taken part agree that as a result of the day they now understand more about the financial demands they will face as adults, and recognise that it’s important to plan personal finances.
So far, the programme has involved:
185 business volunteers
3850 Year 9/10/11 pupils
over 100 teachers
11 secondary schools in key Legal & General and partner company locations
Money, Money, Money has also produced some interesting research on the way Generation Y are thinking about their finances.
In response to the question ‘What would you/your parents/grandparents do with £50,000? ‘
36% of students said they’d spend it all in one go!
23% thought their parents would pay off their mortgage
32% would like their grandparents to give it to them and their families!
WHAT THEY SAY ABOUT MONEY, MONEY, MONEY
“Managing money is tough and it’s best to plan ahead and always keep your options open“ Hastings student
“I think it was a great opportunity for the children to interact with unfamiliar adults. I feel the programme made them think of their future in a totally different way”
95% of volunteers would recommend this type of volunteering to colleagues, and linked the experience to their own professional development. They get a two-page independent feedback report from Magnified Learning on how they performed in the classroom that they can take to their performance review.
Download the (Download PDF:) 2011 impact report (PDF) 370 KB
Download the (Download PDF:) research report (PDF) 460 KB