London, 7th November 2024
MyPocketSkill has secured funding from The Centre for Financial Capability to help children and young people learn about money via an innovative “Near-to-Peer” tutoring programme. This forward-thinking approach will pair primary school students (aged 5 - 11) with older students who will teach them basic financial concepts in a fun and engaging way to ensure that more children in the UK benefit from financial education.
Young tutors on the MyPocketSkill platform will offer online lessons in essential financial topics like budgeting, saving and spending and utilise storytelling methods, gamification and other creative techniques to improve the financial literacy of younger children.
Parents and carers who want to access this financial education for their families can sign up to MyPocketSkill.com for free and select from a range of young tutors to work with their children.
Zara Ransley, Co-Founder and Co-CEO of MyPocketSkill said: “With evidence showing that positive money habits are formed around the age of 7, our innovative ‘Near-to-Peer’ Tutoring Programme aims to boost the financial literacy of school children across the UK. Primary aged children will easily relate to older students who will be able to deliver engaging financial education content in a variety of creative ways such as gamification and storytelling. We envisage working with other partners to scale up this initiative and create a sustainable, replicable model that can make a lasting impact on financial education in the UK.”
Carol Knight, Trustee of the Centre for Financial Capability said: “We were delighted to select MyPocketSkill as a recipient of the Centre for Financial Capability’s Financial Literacy Innovation Fund, which we established to support innovative programmes focused on developing children’s financial literacy. MyPocketSkill’s "Near-to-Peer" Tutoring programme is an excellent example of this, and we look forward to following the progress of this exciting project. We are privileged to be supporting work which so closely aligns with our mission of ensuring every child in the UK benefits from high-quality financial education.”
NOTES FOR EDITORS
About MyPocketSkill
MyPocketSkill is an award-winning GenZ platform for financial education. It enables 13-25 year olds to Earn, Save, Invest and Learn about money with the help of behavioural science. MyPocketSkill addresses the decline in opportunities for young people that enable them to gain financial independence and employability skills.
With its roots deeply seated in an evidence-based approach to financial education, MyPocketSkill has seen impressive growth with nearly 200,000 signed-up users at present. The company was recently recognised in The UK FinTech Impact Report 2024 (Innovate Finance) as a key UK FinTech that positively impacts the UK economy and society, and has also won numerous awards including the Santander X Global Challenge for Education, Employability and Entrepreneurship 2024 and the European Institute of Technology ‘Digital Champion of Europe’ 2024 award.
Contacts and more information
About The Centre for Financial Capability
Formed in 2021, the Centre for Financial Capability was launched with the mission of ensuring every child in the UK has the opportunity to develop the skills and behaviours necessary to navigate critical financial decisions in later life, starting at primary school. Inspired by ground-breaking research by the Money and Pensions Service which found money habits form around the age of 7, the Centre for Financial Capability brings together key stakeholders across the primary financial education space to achieve the shared aim of ensuring all children receive a high-quality and effective financial education starting at a primary level.
More information: https://www.tcfc.org.uk