What's Happening?
GoHenry, a financial education app and pre-paid debit card provider, has launched over 80 free money lessons on YouTube aimed at families in the UK. This initiative is part of GoHenry's ongoing efforts
to address the financial education gap, especially as the UK government plans to make financial education compulsory in all primary schools by September 2028. The lessons, which are part of GoHenry's 'Money Missions', are designed to teach children aged 6-18 about budgeting, saving, and investing. These lessons have been developed in collaboration with teachers and financial experts, ensuring they align with age-appropriate UK education guidelines. The initiative comes as financial education has been part of the national curriculum for council-run secondary schools since 2014, but not mandatory for academies and free schools.
Why It's Important?
The launch of free financial education lessons by GoHenry is significant as it addresses a critical gap in financial literacy among young people. With financial education set to become compulsory in UK primary schools by 2028, GoHenry's initiative provides an immediate resource for families to start educating their children about money management. This is crucial as financial literacy is a key skill that can impact an individual's ability to manage personal finances effectively, potentially reducing future financial struggles. By making these resources available for free, GoHenry is helping to democratize access to financial education, which can lead to more financially savvy future generations. The initiative also highlights the role of digital platforms in delivering educational content, especially in areas where traditional schooling may not yet cover.
What's Next?
As the UK government prepares to implement compulsory financial education in primary schools by 2028, GoHenry's initiative could serve as a model for other educational programs. The success of these lessons may encourage other financial institutions and educational bodies to develop similar resources, potentially leading to a broader integration of financial literacy into educational curriculums. Additionally, the data collected from GoHenry's Money Missions could provide valuable insights into the effectiveness of digital financial education, influencing future educational policies and practices.
