RedSTART’s mission is to improve financial literacy in primary school children. Its unique programme that helps pupils learn about money, equipping them with the financial awareness that they’ll need to handle their finances throughout life.
This academic year, children from 65 schools will benefit from RedSTART’s Change the Game programme. As well as immersive workshops and lessons, pupils will use the charity’s newly developed ‘RedSTART Bank’ app, allowing them to safely practise saving, spending and budgeting for real items using virtual ‘RedSTART pounds’.
Why Legal & General is partnering with RedSTART
Legal & General wants to ensure that the seeds for long-term financial wellbeing are planted early, so that all children, regardless of their socio-economic background, have the financial education they need to make informed decisions throughout their lives and into retirement.
Recognising this, in 2022 Legal & General signed a three-year partnership with financial education charity RedSTART, and this year, additional funding has enabled six new primary schools to join RedSTART’s programme. The addition of new schools means the programme has also been able to expand into Wales.
How Legal & General is helping RedSTART improve financial education for kids
Legal & General seeks to leverage employees’ diverse range of skills and experiences to support its charity partnerships, and RedSTART is no exception.
In academic year 2022/23, over 120 Legal & General volunteers helped deliver around 25 RedSTART workshops, developing their financial literacy by teaching them about the importance of budgeting, paying bills, emotions, risk, and more.
Measuring the impact of support like this is important, and RedSTART is partnering with King’s College London and Boston Consulting Group to measure and evaluate the impact of this programme.
The researchers will report back in 2029, with mid- and full-year reports tracking the programme along the way, allowing for RedSTART to make any extra interventions as needed. The reports will provide a body of evidence that will be presented to the Government to support the case for financial education to be a core subject for all 4.7 million primary school children across the UK.
