1. Integrating Financial Well- Being Julia Owens WHY? HOW?

2. Quick Statistics The average household with debts owes £16, 336 (exc. mortgage) 9,389 new debt problems dealt with by the CAB every day £178 million personal interest paid in UK daily Every 15 minutes a property is repossessed Every 3.87 minutes someone is declared insolvent or bankrupt 20.01 million daily write-off of loans by UK banks and building societies 1,732 people made redundant daily

3. Young People and Money More food for thought … Many young people today have very little understanding of the costs of living independently and/or managing their money effectively A recent newspaper article referred to ‘over half of the UK's teenagers falling into debt by the time they are 17’ 68% of students surveyed couldn’t correctly identify the cheapest loan Recent research has shown a link between money problems and mental health issues Young people with money worries and/or debt issues tend to have difficulty focussing on their studies or paid employment, underperforming as a consequence and finding themselves at a disadvantage.

5. Why we help people to manage their money better Psychological Wellbeing: 5.6% Life Satisfaction : 2.4% Anxiety/ Depression : 15% Moving from LOW to AVERAGE levels of financial capability A £1000 increase in annual income leads to only a 0.2% improvement in life satisfaction

6. How can we do more to develop the financial awareness and capability young people? There’s a lot been happening in Wales this year …..

7. Barclays Money Skills Under the branding of Barclays Money Skills, Barclays Bank have funded money weeks in 150 colleges across the UK in early March 2011 to help learners aged 16- 24

8. Activities and Tutorials Colleges must complete the two compulsory activities and at least two of the optional activities Activities Tutorials Money Skills Tips Leah’s Story On-line quiz Scamming and Fraud Style on a budget The taste of money Family Money Tips

9. Lloyds Banking Group (Money for Life) £4m in a 2-yr UK wide programme to develop approaches/resources that FE practitioners can embed in their day to day provision to help learners of all ages and abilities as they complete their studies or training (building on the original FSA project).

10. The Best Resources You!

11. The Shopping Basket Activity

12. Shopping basket Activity – Competition results Item Price of non- branded items £ Price of branded items £ Face pads0.851.79 Cotton buds0.351.00 Make up pads1.502.29 Facial wipes0.463.05 Bottled water0.490.81 Nail polish remover1.002.02 Plasters1.193.20 Pens1.203.85 Chocolate bar1.001.97 A5 notebook0.652.75 Cappuccino sachets1.692.55 Total10.3825.28

13. 14 Branded items

14. The same 14 items from the Basics range

15. Competition answer

16. Financial Well-Being and PSE Active Citizenship Understand how indibiduals and voluntary groups can bring about change locally, nationally and internationally. Health and Emotional Well-Being Understand how to critically evaluate personal lifestyle choices in the context of physical health and emotional well being, considering the short and long term consequences of such decisions Understand the life experiences which enhance or damage self esteem Moral and Spiritual Development Develop a consistent set of personal values and have the confidence to apply these in practice. Preparing for Lifelong learning Develop the confidence and drive to set personal goals and put their ideas into action. Understand their increasing independence in terms of managing personal finances and accessing credit. Sustainable Development and Global Citizenship What is sustainability? Raising awareness.Saving energy and reducing waste.Promote the use of environment- friendly products.

17. Financial Well-Being and the Welsh Baccalaureat Wales Europe and the World. Element 2: Social Challenges and responses. How social deprivation and inequality can affect people and communities. Personal and Social Education. Element 1. Positive Relationships Key Issue:1. The challenges facing life in today’s society Who supports people faced with poverty and debt. The ways young people’s lifestyles are influenced by peer pressures. Element 2. Health and Emotional Well-Being Key Issue 1. The benefits of a healthy lifestyle as a lifelong target. Physical health care, mental health care and preventative health care. Discussion about what is a stress related illness (anxieties, phobias and exam stress). And so on … Key Skills

18. What will be happening next year? CPD Programme Learner Activity Further development