Moneywise has announced the winner of its Personal Finance Teacher of the Year 2017 competition, sponsored by Old Mutual Wealth.
The winner of the competition is Claire Fovargue of Kirton Primary School, Boston, Lincolnshire, who received £5,000 to spend on equipment at her school at a glittering ceremony in London on 22 June 2017, hosted by TV presenter Kate Garraway.
The judges thought Claire, who gives up her own time to create a school bank and shop for the children at her school, really showed her enthusiasm and passion for her project. She was viewed by the judges as doing a remarkable job, demonstrating a truly innovative approach to helping kids and getting them more confident with money. The way she could demonstrate the impact on the children was absolutely brilliant.
The judges were Kirsty Bowman-Vaughan, financial education lead for the Money Advice Service, Moira O’Neill, Moneywise editor, Jeff Prestridge, personal finance editor of the Mail on Sunday, and Jane Goodland, responsible business director for Old Mutual Wealth.
They were looking for teachers at both primary and secondary level who could make personal finance lessons fun, engaging and interactive. Teachers were asked to submit their three favourite personal finance lessons, plus a supporting statement and any other evidence.
"It was uplifting to see what she has done for the children"
Moira O’Neill, editor of Moneywise said: “I thought Claire’s entry stood out as being passionate and dedicated. I really loved what she got the kids to do in working in the bank and applying for jobs within the school.”
Kirsty Bowman-Vaughan said: “She really showed her enthusiasm and passion for the project by getting the whole school involved.”
Jane Goodland said: “This is a truly innovative approach to helping kids and getting them more confident with money. This was completely tailored to the children’s circumstances and the way she could demonstrate the impact on the kids was absolutely brilliant. This is also a permanent feature of the school, rather than simply one lesson a year.”
Jeff Prestridge said: “It was uplifting to see what she has done for the children and for the school. This has had a transformative effect on the kids.”
The two runners up (pictured above), who each receive £1,500 for their schools are:
Rachael Cottam, Tuxford Primary Academy, Newark, Nottinghamshire
The judges were impressed with the values that Rachael imparted to the children – lessons included taking care of your money and how to look after others financially. She created engaging activities, including getting the kids to design their own game, and to compete to spend the day as head teacher, which added a fun and interactive element.
Chrissy Humphrys, The Green School, Isleworth, Middlesex
The judges thought Chrissy’s material was very challenging and she really made the children think carefully about their beliefs by posing fantastically thought-provoking questions. They were impressed with how she set out the fact children could end up in debt if they do not recognise and address financial problems. Plus, they liked her use of both internal and external resources.
Three other teachers made it on the list for the final judging session and the judges were very impressed by the high quality of their entries too:
Noelle Doona, Hendon School, Golders Rise, London
Darren Elwell, St Aidan’s CE High School, Preesall, Poulton le Fylde
Francesca Jebb, Lanesfield Primary, Lanesfield, Wolverhampton
Moira O’Neill, editor of Moneywise said: “We run this competition because we believe it’s never too soon for young people to learn about their finances, and that by mastering the basics early on in life, they will grow up to be the most financially savvy generation yet.
“These awards recognise the individual effort put in by primary and secondary school teachers to create engaging ways to ignite interest in personal finance. We know that teachers are busy and face an extraordinary range of competing claims on their time so those making these efforts deserve great acclaim.
“It’s crucial for the health of this nation’s finances to support teachers at all levels to deliver key financial messages to young people. It’s essential that we prepare and empower young people to make the key decisions that they will need to become confident and independent young adults. With two young daughters this is a cause very close to my heart.”
Claire Fovargue, the wining teacher said: "At Kirton Primary School, our prime goal is achieving success for our children; this is our single motivating factor. Therefore, to have our efforts and successes recognised by an award like this has been incredible.
"With regards to the money, this is a huge amount for us and we want to ensure it has maximum impact on promoting our children’s understanding of personal finance. The Senior Leadership Team will be consulting with the School Council and the staff at the Shop and Bank to ensure the children also have an input."
Personal finance has been on the national curriculum in England since September 2014.
Secondary schools: In Citizenship, the curriculum includes day to day money management and planning for future needs. This includes budgeting, managing risk, public money, insurance, savings and pensions, income and expenditure, credit and debt and financial products.
For Maths, the curriculum covers problem solving in financial mathematics. This includes percentage changes, simple and compound interest, loan repayments.
Primary schools: Financial education isn’t yet on the curriculum but in maths, money is taught as a unit of measurement and in problem-solving. Statistics is also introduced for children aged 7-10, which gives an opportunity for teachers to introduce financial concepts.
In November 2016, the Money Advice Service found just four in 10 young people in the UK have received financial education at school.