Helping the next generation of taxpayers

CHILDREN as young as 10 are now benefiting from lessons in how to manage their money as part of a Citizens Advice Havant initiative, funded by The Big Lottery.

Tuesday, 4th April 2017, 6:00 am
Updated Sunday, 7th May 2017, 9:53 pm
Students are taught how to manage salary and pay tax

My current job is a money mentor for Work out your Money.

I work closely with schools in the area to provide lessons for primary and secondary school students.

We have been following the progress of Work out Your Money in both schools and the community in the past few months.

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The project continues to grow, with many more schools now providing Work out your Money lessons to their students.

Last week the children in Year 6 at Purbrook Junior School were enthusiastic and keen to learn about the history of money and how much everyday items cost.

They had practical activities which involved handling money, prompting them to think about the real value of it.

Feedback from the children and teachers is so valuable to us.

When asked what they liked about the session, one student said: ‘I really liked finding out whether to spend or save money.’

Their teacher added: ‘They were able to understand and relate to the scenarios given, making them meaningful.

‘The presenters were extremely friendly and worked really well with the children.’

We have also been back at Havant Academy – where we have worked with all year groups in the past two years.

On our recent visit we were delighted to be part of the Year 10 careers day.

While a recent survey from the Money Advice Service found that 59 per cent of 16-17 year olds cannot read a payslip, this is no longer the case at Havant Academy.

Their Work out your Money lessons not only showed them what deductions would be made from their salary in the future, but how that money is spent.

They also had the opportunity to examine a sample payslip and learned how to spot if they were being charged emergency tax.

When asked what they liked about the session, one student said: ‘It’s something I’ll actually get to use in my life!’

Another enjoyed learning about taxes, and what percentage of your salary is taken.

I am looking forward to working with their existing schools and taking on new partner schools over the coming months.

If you feel your school would benefit from the Work out your Money programme, you can contact us on (023) 9247 6013.