Financial education for young people in care and care leavers

The report ‘Care to talk about money? The importance of financial education for children in care’published by the All-Party Parliamentary Group on Financial Education for Young People in 2019 providesd evidence on the importance of effective financial education to prepare young people for leaving care. With that in mind, government have brought together free resources to support young people, foster carers, social workers and others on this subject. The resources include

Family Workshop: focuses on helping families explore money learning together

Money Heroes resources: brings together the teacher and carers/guardians, enabling them to work together to support the child’s financial capability

Developing Financial Futures: contains easily adaptable and discussion based activities

Your Money Matters: topics include spending and saving, borrowing, debt, insurance, student finance and future planning

Making Your Money Work for You: two workbooks designed to support children in care aged 11-14 and 15+ t

Spending Sense: aimed at those working with young people with mild to moderate special educational needs

Advisory Service: dedicated support line to provide answers to questions around the development and delivery of financial education to young people

Stepladder of Achievement (The Share Foundation): a six step program for building life skills of young people in care aged 15 to 17. An enhanced version, 'Stepladder Plus', can be offered to young people in care who can then 'earn' up to an additional £1,500 by completing all six modules, which is paid into their Junior ISA account