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Financial Education – an introduction to the Child Trust Fund
Project Status: Completed
[Duration] [NIACE Contacts] [Project History] [Aims] [Objectives]
Duration of project
Start: October 2004
End: March 2005
NIACE Contacts
Silvanna Harvey - Development Officer, NIACE
0116 2047056
Silvanna.Harvey@niace.org.uk
Project History
Opening a Child Trust Fund account, selecting the right type of investment option and managing the account effectively will require reasonably sophisticated level of financial knowledge and literacy, language and numeracy skills.
Research commissioned by the Adult Financial Literacy Advisory Group (AdFlag) in 2001 found that three million people do not have a bank or building society account of any sort and there was a correlation between financial exclusion and low levels of literacy, numeracy and language skills. In addition, the research revealed that adults with low levels of literacy and numeracy skills do use financial services but their level of skills had a negative impact on their ability to make informed choices and to manage their finances effectively.
Aim
To develop a financial education taster session based on the Child Trust Fund
Objectives
 | An analysis of the CTF scheme and the identification of appropriate teaching and learning opportunities. |
| The production of a course plan with a focus on improving learners numeracy skills. |
| Pilot and evaluate the session. |
| Encourage learners to progress to other learning opportunities. |
