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Kent charity becomes financial education hub

20 March, 2017Eoghan Hughes

A Herne Bay-based organisation has become the first charity in the UK to offer a dedicated programme of financial education to its members and their families.

The Special Needs Advisory & Activities Project (SNAAP), has become the first official outreach partner of The London Institute of Banking & Finance and will now offer the financial education provider’s online Lessons in Financial Education (LiFE) programme throughout its centres.

Through the partnership SNAAP will share its resources, knowledge and expertise with The London Institute of Banking & Finance to widen the outreach of LiFE to other charities and expand the reach of financial education in the region and beyond.

Despite being introduced into the National Curriculum in 2014, research from The Young Persons’ Money Index shows that the majority of teenagers leave full time education without ever having had a lesson on personal finance, with those outside of mainstream education being particularly at risk of financial exclusion.

Consequently, LiFE is designed for learners of all ages and abilities as an introduction to everyday financial management and to understand key concepts such as saving and borrowing, managing risk, budgeting, avoiding fraud and scams and finding out where to go for impartial financial advice.

Petra Rouse, Trustee of SNAAP, said:

“Money Management is a fundamental life skill that everyone should have the opportunity to access regardless of age, disability or need. We are excited to have the opportunity to work closely with The London Institute of Banking and Finance by offering the LiFE programme to our families. Our mission is to give disabled children and young people the confidence to be part of mainstream society and LiFE will definitely help them on this journey.”

Alison Pask, Managing Director (Financial Capability & Community Outreach) at The London Institute of Banking & Finance, said:

“Our outreach programme aims to reach those young people who may not ordinarily receive financial education and empower them through rewarding programmes of study, which they can use in their day-to-day lives. Through our partnership with SNAAP, we will be able to help vulnerable young people and their families to develop positive, independent and confident attitudes in managing their personal finances.”

For more information about SNAAP, please visit: www.snaap.org.uk 

For more information about The London Institute of Banking & Finance’s lessons in financial education (LiFE) programme, please visit: www.libf.ac.uk/study/financial-capability/qualifications/lessons-in-financial-education/lessons-in-financial-education-(life)-award