Together with external experts, the Danske Bank Group is striving to fill in the gaps in 10-15-year-old children’s knowledge about money matters in Denmark, Norway, Sweden, Finland and Northern Ireland. On January 27, 2010, the Group will launch a new online universe called Control Your Money for maths teachers to use in their teaching along with a new site - teachingfc.co.uk - with assistance and teaching tips.
Putting theory into practice
Control Your Money puts theory into practice for children between the ages of 10 and 15. Pupils can embark on eight different missions that each in their own way provides a hands-on insight into personal finance. Theory can be put into practice in the “Real Deal” section in which the class can set themselves a goal in the real world and experience what it is like to save up for a class party, for example.
Gaps in 10-15 year olds’ financial know-how
A number of surveys carried out by the YouGov Zapera research institute for the Danske Bank Group have illustrated the need to increase 10-15 year olds’ financial knowledge. An incredible 77% of children have never heard of fixed and variable living costs, and 84% think this topic should be included in the school curriculum. Ninety-one percent of teachers would feel better prepared to teach personal finance if they had access to the new online material. And 73% think it is a good idea for banks to develop this kind of material.
Material compiled with expert knowledge
One advantage of teaching using the Control Your Money universe is that the tasks are constantly adapted to the pupils’ level. The Control Your Money and Teaching Financial Literacy sites are free of charge, have been developed together with external experts and reflect national curricula. Moreover, the teaching material does not contain the Group’s logo.
A win-win situation
Control Your Money is part of the Group’s Financial Literacy and Education Investment programme aimed to equip the next generation of consumers better for dealing with money and personal finance.
“The more financial understanding our customers have, the better they can challenge the Group to develop better products. Customers also have a solid foundation to be able to make sound financial choices,” says Morten Kamp Jørgensen, head of the Group’s financial literacy programme.
Investing in financial literacy since 2008
The financial literacy programme has been running since 2008, and the Group is committed to investing in advancing the financial literacy of children, teenagers, parents and teachers. First with Moneyville for 5-9 year olds; now with Control Your Money and Teaching Financial Literacy; and later in 2010 with Mind Your Money, an online universe for 18-27 year olds.
Published on January 27, 2010