Tracey Hill named first-ever Personal Finance Teacher of the Year
Tracey Hill from William Howard School in Brampton, Cumbria, has been named Moneywise's first-ever Best Personal Finance Teacher in Britain.
Having demonstrated a steely commitment to educating young people about the importance of making responsible financial decisions from an early age, she has won a £5,000 cash prize for her secondary school.
Tracey, economic wellbeing coordinator at William Howard, plans to use the money to further inspire her students to adopt good financial habits by giving her most 'Moneywise' pupil in each of the coming five years £1,000 to save in a cash Isa.
Engaging teaching methods
Moneywise, and our competition sponsor Gocompare.com – which helped us judge the shortlisted entries - are hugely impressed with Tracey's engaging teaching methods.
Matt Sanders, banking spokesperson at Gocompare.com, said: "Tracey's award submission displayed an impressive range of techniques for making the topic of money management both fun and engaging. The activities, workbooks and projects thoroughly covered all aspects of budgeting, and the value of money was clearly at the heart of the exercises.
"It was also apparent that Tracey focuses on preparing students for the real-world financial decisions they will soon have to make. For example, finding credit cards and other financial products by looking beyond giveaways and attractive marketing messages to unearth real value, based on individual needs and circumstances."
He added: "It's important that students understand the basic differences between credit and debit, but also the application of each in real life situations, and we felt that Tracey's personal finance curriculum did this and more. Tracey is the worthy winner of the Moneywise Personal Finance Teacher of the Year title."
All of the competition entries demonstrated a real commitment to helping their students understand the world of money.
Our runner-up is Wayne Cartmel, mathematics and business teacher at Barnfield South Academy in Luton.
Sanders said: "The learning materials submitted by Wayne were really impressive, and in our view should be shared amongst other teachers as a solid grounding for financial education. There was a particular focus forward planning, encouraging pupils to consider the extended or annual costs of the simplest of things. This is a key lesson in making savings decisions and is hugely important to budgeting."
Invidivual Savings Accounts were introduced on 6 April 1999 to replace personal equity plans (PEPs) and tax-exempt special savings accounts (TESSAs) with one plan that covered both stockmarket and savings products, the returns from which are tax-exempt. The ISA is not in itself an investment product. Rather, it’s a tax-free “wrapper” in which you place investments and savings up to a specified annual allowance where the returns (capital growth, dividends, interest) are tax-exempt (you don’t have to declare ISAs and their contents on your tax return). However, any dividends are taxed within the investment, and that can’t be reclaimed.