Lloyds Banking Group teams up with online school to teach young people to manage their money

The collaboration, which is available through Lloyds, Halifax and Bank of Scotland’s websites, gives 11-16 year olds a strong grounding in finance, through a five-part ‘bite-size’ video series. 

The short films were made by MVA founder Hugh Viney, alongside Kate Meeks, the Head of MVA Studio. The videos cover How Money Works, Budgeting Basics, Saving Money, Choosing a Bank Account, and Employment. 

The series can be found on the following links:

Lloyds: https://www.lloydsbank.com/help-guidance/landing/teaching-kids-about-money-older 

Halifax: https://www.halifax.co.uk/helpcentre/landing/teaching-kids-about-money-older 

Bank of Scotland: https://www.bankofscotland.co.uk/helpcentre/landing/teaching-kids-about-money-older 

To support its own students, MVA, which has more than 1,000 pupils aged 11 to 18, is also developing a financial education course, building on the principles in the videos. 

This comes as a spotlight falls on financial education in schools. 

Recently, Peter Bedford MP introduced a 10 Minute Rule Bill to Parliament, aiming to mandate financial education for all young people aged four to 18 in English schools. The Financial Education Bill seeks to build on the work of previous governments by mandating primary schools and post-16 educational settings to teach students the essential skills for managing their money. 

“We are delighted to be working with Lloyds, Halifax and Bank of Scotland on these important and timely films,” said Hugh. 

“One of the key principals when I founded MVA was to make sure our students are prepared for the world after school, and financial literacy is a fundamental part of that - it is one of the most important skills we can pass on to young people. 

“As an online school, we pride ourselves on our innovation and on producing eye-catching teaching resources through MVA studio, and we hope these videos will form part of a wider conversation about teaching children the importance of financial management.” 

Kate added: “We’re pleased that a national conversation is beginning to take place on the importance of financial education in our schools. We’re already developing our own course and resources for our pupils. The better understanding of money our young people have at an early age, the better they will be equipped to deal with life after school.” 

Tamara van den Ban, Customer Propositions Director from Lloyds Banking Group, said: “Starting early with money management can set the stage for a lifetime of financial success and positive money vibes. We’re excited to be at the heart of this journey, providing young people with the tools to dive headfirst into the world of finances. With MVA, we're pleased to offer this series of videos that introduce young people to the basics of looking after their money, setting them up for a bright financial future."