Control Your Money (CYM), Danske Bank's online universe of educational activities in personal finance, has been received with great interest and enthusiasm by Danish pupils in the fourth to tenth classes. That was the conclusion of a new study that Advice A/S conducted for the Danske Bank Group.
Positive response from maths teachers
"We are very pleased that mathematics teachers have a positive opinion of this initiative,” says Project Manager Mads Helleberg Dorff Christiansen of Corporate Responsibility.
”We know that the earlier you start to explain how personal finances work to children and young people, the better they remember it. So we hope that with CYM and our other financial literacy initiatives we can help prepare young people to manage their money and personal consumption better.”
Three clear tendencies
The study is based on responses from about 90 teachers at 55 Danish schools who have had their classes test CYM. In their experience with Control Your Money, the teachers identified three clear tendencies:
- Good identification: The pupils can identify with the challenges they encounter in Control Your Money. A full 97% of the teachers found that CYM fosters involvement and enthusiasm among the pupils.
- User-friendly universe: The teachers think that Control Your Money is very user-friendly, and 98% would recommend it to other teachers.
- Better financial understanding: The teachers believe that the pupils’ level of financial literacy is higher after they use CYM and that CYM makes it easier to teach financial literacy.
Control Your Money in brief
Control Your Money (new window, Danish only) is part of Danske Bank’s Financial Literacy Programme, which is intended to make the next generation of consumers better prepared to manage their money and personal finances. The purpose of CYM and the Group’s other financial literacy initiatives is to help children and young people become responsible consumers in the future.
CYM was developed by the Danske Bank Group in collaboration with a number of experts. The objective was to give all interested mathematics teachers an interactive tool for teaching 10-15 year olds how personal finances work in an entertaining way.
Control Your Money has been launched in Denmark, Finland and Norway. It will be launched in Sweden and Northern Ireland during the remainder of 2010 and in Ireland in 2011.
Last updated on 27 August 2010