The transition from education to employment is a pivotal moment. Besides academic knowledge, developing young people’s broader life and employability skills is also vital. This includes critical thinking and problem-solving skills commonly highlighted by the Edge Foundation's work with colleges and schools around the UK. As part of Careers Education, Information, Advice and Guidance (CEIAG), all schools must also provide a range of enrichment activities aimed at helping pupils to transition into employment under the framework of the Gatsby Benchmarks.
One skill often ‘assumed’ or overlooked is financial literacy. Unsurprisingly, many young people baulk at the idea of ‘number crunching’. Yet it takes little effort to foster this skill in a fun way that empowers them to navigate financial choices confidently and make informed career decisions. Recognising this, I recently developed a teaching aid on this topic: ‘The Finance Game’.
'The Finance Game' is a creative, interactive approach to teaching young people about financial literacy. Using a customised Excel spreadsheet (based on real debt counsellors' finance statements) and working in teams, young people must make expenditure decisions to explore the interplay between personal finances and career choices. Applying experiential learning, they will learn about essential financial concepts such as budgeting, savings, investments, and debt management.
