Could you help improve the financial wellbeing of the next generation?
Educating children about how money works can remove one of the barriers to social mobility and make a real difference to financial outcomes in adulthood. This Volunteers’ Week we’re highlighting opportunities for ICAS Members and Students to get involved with RedSTART, the charity that helps the next generation achieve financial security.
Financial habits are learned early in life and when bad habits become ingrained, they can have long-lasting negative impacts and lead to a range of problems.
A financial skills gap
Sadly, evidence points to levels of financial literacy in the UK that are low and falling. There appears to be a significant gap between the financial skills of children in disadvantaged areas in comparison to their peers in advantaged areas.
Our study shows that the financial skills of disadvantaged children, who are just about to leave secondary school, are similar to those of children from advantaged backgrounds who have just joined secondary school.
Professor John Jerrim, UCL Social Research Institute
RedSTART equips children with real-life financial skills
That’s where the financial education charity RedSTART comes in. Since 2012 they have helped over 45,000 children in schools across the UK to achieve better financial futures.
Their play-based, experiential approach to learning provides children with basic monetary knowledge and equips them with the real-life skills required to better manage their financial futures.
Children who are part of their programme gain confidence in handling money, learn about rewards from working hard, about interest and saving, using a bank and how to avoid debt traps and financial scams.
And the RedSTART programme takes a long-term approach to achieving change, beginning with children at around age 5 and working with every child, every year throughout primary school, to develop and embed new financial skills, habits and knowledge as they learn and grow.
Being involved in delivering a RedSTART lesson was an uplifting experience in so many ways. The thing that stood out for me was that every child felt able to participate fully in the activities which formed the lesson regardless of their confidence with numbers.
Christine Scott, ICAS Head of Charities and Pensions and RedSTART volunteer
Could you help give children a financial head start?
RedSTART is seeking Lead and Support volunteers to improve the future of the next generation and help deliver their money-management workshops as part of a team. No experience is necessary, full training is provided and volunteers work alongside qualified teachers from the schools involved.
Volunteers are required to commit to attending a minimum of one 3-hour workshop per year and there are vacancies in the following locations:
- Edinburgh, Fife and the Scottish Borders
- London (inside the M25)
- Newcastle, Sunderland and Gateshead
- Bath, Bristol, Weston-Super-Mare
- Lowestoft and Suffolk/Norfolk borders
RedSTART run workshops throughout the academic year, and volunteer training is provided during the term more than a month prior to each workshop. The next training sessions will be held in September/October for workshops delivered in November/December.
Get in touch to get involved
If you’d like to volunteer to help RedSTART or would like to learn more about what’s required, please get in touch with Claire Fraser-Lim at Claire.Fraser-Lim@redstarteducate.org
RedSTART Educate is a charitable incorporated organisation (CIO). Registered in England and Wales: Charity Number 1170297. Registered in Scotland: Charity Number SC050276.