Supporting financial education for young people

We’re a big supporter of financial education for young people – and a lead supporter of KickStart Money, an initiative delivered by the charity MyBnk. This initiative has seen us join together with some of Britain’s leading savings and investment firms, to collectively transform the long-term savings behaviour of the next generation.

We have become a signatory of a letter to the UK Prime Minister, which calls for compulsory financial education in primary schools to instil positive attitudes towards saving when habits are first formed. Noel Butwell, Chief Executive of Standard Life Savings, signed the letter on our company’s behalf – joining the bosses of other leading savings and investment firms in the UK.

This is supported by recent research carried out by market research consultancy ComRes. The research found that, when made aware that attitudes towards money are formed as early as the age of seven, a clear majority of people surveyed – 72% – support teaching children how to manage their money.

And evidence suggests that financial education is working. KickStart Money’s evaluation report shows that two out of three primary school-aged children were actively working towards a savings goal after receiving lessons.

Noel Butwell commented:

"There's now increasing evidence that key behavioural attitudes to money are formed by the age of seven. We’re pleased to play our part in this industry initiative to kickstart a national savings culture. Alongside our support for National Numeracy, we’re helping our future customers develop their confidence and life skills."