1. JBlack - Financial Capability (APO) Financial Capability (FC) Financial Capability (FC) within the NI Curriculum Mrs Jill Black CCEA – Education Manager Financial Capability

2. JBlack - Financial Capability (APO) Learning Outcomes To develop a clear understanding of: The definition of FC. The rationale for FC. FC within the NI Curriculum Available resources/websites

3. JBlack - Financial Capability (APO) What is Financial Cap? Fundamentally: Its about being able to manage your finances now and in the future!

4. JBlack - Financial Capability (APO) What is Financial Cap? Making financial ends meet Keeping track of finances Planning ahead for financial needs Choosing financial products Staying informed of economic indicators Managing Money, 2005: Survey conducted by the NICC & FSA

5. JBlack - Financial Capability (APO) Financial capability is more than the ability to add/subtract money and to know what your change should be when shopping. It is about making informed choices based on :- Needs Wants Budget Best Value What is Financial Cap?

6. JBlack - Financial Capability (APO) Financial Knowledge and Understanding Understanding the concept of money Where does it come from? Where does it go? Financial Skills and Competence Knowing how to look after and manage money How do we plan to look after our spending? How can we evaluate basic risk and return? Financial responsibility Making personal life choices, and thinking about the ethics of money Do the choices we make impact on others – and if so, how? What is Financial Cap- Interrelated Themes?

7. JBlack - Financial Capability (APO) Financial Cap. Rationale Almost 900 people in Northern Ireland went bankrupt in 2005- 2006 (citizens advice bureau) More than a quarter(27%) used no information at all when making financial decisions. ( NI Consumer Council/FSA, 2005) 1 in 3 people in Northern Ireland did not feel they could manage for more than a month if their income fell. (NI Consumer Council/FSA, 2005)

8. JBlack - Financial Capability (APO) Financial Cap. Rationale Financial Cap. Rationale -Money in the 21 st century Changes in shopping habits mean children may now be experiencing very different situations: paying with plastic or a cheque cash-back or cash dispensers Pocket money Direct debit, standing orders and e-banking.

9. JBlack - Financial Capability (APO) Why teach Financial Cap. ? To develop a generation of financially capable citizens Entrepreneurial skills do not necessarily lead to FC. Accessibility to debt We must prepare the future generation with: - the knowledge and skills to budget / handle money wisely - the ability to make informed and sound judgements

10. JBlack - Financial Capability (APO) Financial Cap. Warnings? It is very important to recognise that some childrens experience of money is still very much within a cash economy Some children may live in a financially excluded society which does not have access to legal financial services Cultural diversity can give children varying and different experiences of finance/financial services

11. JBlack - Financial Capability (APO)

13. Just Some Resources! Talk Money, Talk solutions Money Week On the Money Making sense of money Moneyville.co.uk Pfeg: www.pfeg.org

14. JBlack - Financial Capability (APO) Reasons for not teaching Financial Capability:- Not having enough time Other priorities Not appropriate for children of this age Lack of staff time Lack of awareness of the topic Parental responsibility Source: FSA(2002) Personal Finance Teaching in Schools

15. JBlack - Financial Capability (APO) Schools would be helped by:- More materials More training and more advice More information from financial companies Exemplar lessons and examples of good practice Information of how to integrate financial capability into the curriculum (PFEG)

16. JBlack - Financial Capability (APO) Just Some Resources! www.pfeg.org* www.nicurriculum.org.uk www.consumercouncil.org.uk www.fsa.gov.uk/consumerhelp www.citizensdvice.co.uk/moneytalks

17. JBlack - Financial Capability (APO) Contact Details Jill Black – Education Manager Tel: 028 9026 1200 Ext 2616 Mob: 077 8652 8830 E-mail: jblack@ccea.org.uk