Jewel & Esk students show the importance of financial education skills

September 2010

Fifteen Jewel & Esk students were presented with Distinction or Merit Certificates in Personal Finance at Edinburgh’s Jewel & Esk College last week. They were part of a 22 strong group who were being celebrated for successfully completing the college’s new Foundation and Intermediate Certificate Courses in Personal Finance from financial education charity, ifs School of Finance.

Rod McKee, Head of Financial Capability at the ifs, the organisation which developed these qualifications, also attended the ceremony.

Speaking at the event, he commended Jewel & Esk College for their forward thinking approach to financial education:

“The proliferation of new financial products unavailable in previous generations and a fundamentally changed economic world means financial education needs a more defined place in curriculums.

Research has shown that standalone qualifications are more effective than teaching personal finance education across several subject areas. They provide a more coherent curriculum, a sharper focus on learning outcomes, are measurable and perhaps most critically, they change the way people think about, spend and save money.

Qualifications like those that the students today have achieved are highly effective in empowering future generations to take responsibility for their own finances. We hope that more colleges and secondary schools across Scotland will now follow the Jewel & Esk example and introduce personal finance courses to their curriculum.”

Pauline Reid, 27, from Musselburgh, has just achieved a Distinction on the Foundation Certificate. She comments, “As a single parent I have learned how to deal with my personal finances much more effectively. I now intend to further my studies in Business and Accountancy at HNC level with a view to progressing to University”.

Jewel & Esk Principal, Mandy Exley also attended Tuesday’s celebrations. She congratulated the students, “The students have worked incredibly hard to achieve their certificates. They each brought their own financial experiences to the classroom and were fully engaged and committed to the course. They all now move forward with an increased sense of financial confidence. This is clearly of assistance when dealing with their own finances and, of course, stands as a qualification which is attractive to employers in a whole range of administrative roles. After all, money management and the effective use of resources is a key skill for any employee in today’s economic climate.”

For further information, please visit www.financialcapability.co.uk