LifeSavers is a foundation initiative of The Just Finance Foundation, helping children manage money wisely.
LifeSavers is a financial education programme for primary schools, giving children the knowledge, skills and attitudes to manage money well. Habits around money are being formed by the age of 7 and just 5% of parents think that their children leave school with the skills needed to manage money well. In addition, it equips teachers to teach financial education, supports schools to set up savings clubs and provides resources to engage parents and families.
As a school we provide money matters lessons and have also established a school bank, run by pupils. Pupils are able to create a bank account through LifeSavers and our local credit union, with fortnightly savings sessions where pupils can save as little or as much as they can. Importance is placed on regular saving rather than how much the pupil saves. This is to encourage the development of healthy money behaviours early, as recent research from Cambridge University has shown, these habits are being formed at primary school – not as late as secondary school. As an added bonus, research from the Just Finance Foundation (who run LifeSavers), has shown that 70% of teachers say that participation in the bank improves pupils' Maths skills and confidence!