Get thrifty early and online, says minister

6 Mar 2008

A new online, interactive learning programme to help students learn essential life skills, such as running a bank account, budgeting and managing money, was launched by the Minister for the Information Society, Tom Kitt TD.

The new site is aimed at 12-20 year olds and was developed in consultation with teachers in both the Republic of Ireland and Northern Ireland.

“Understanding banking and day to day money management are important life skills that are relevant to us all,” Minister Kitt said.

“The MoneySense for Schools online programme is an extremely useful resource in helping to prepare young people for the choices they will need to make not just as students but throughout their lives,” Kitt added.

Research recently conducted by Ulster Bank Group highlights that almost two in three people (63pc) feel banks have a responsibility to educate and inform people about money management.

The survey points to a growing awareness of the need for financial education in schools. Amongst the parents surveyed, almost 80pc state it is very important teens are taught about money management and encouraged towards responsible financial behaviour in the future.

“We believe this programme will help today’s generation to develop healthy attitudes towards saving and money management, and will give them practical and useful information that will be valuable to them throughout their lives,” said Richard Donnan, managing director of Personal Banking at Ulster Bank.

“Our information tells us clearly that people consider banks are well placed to help young people learn more about banking and money management.

“People now recognise these are essential life skills and can help to increase confidence in dealing with banks and in choosing and using financial products,” Donnan explained.

By John Kennedy