Principality supports Cardiff school with financial education qualifications

Llanishen High School students are money smart after gaining financial education qualifications funded by Principality Building Society.

Over 470 students at Llanishen High School passed the GCSE equivalent qualifications this year in Financial Capability and Careers Development, delivered by The London Institute of Banking and Finance (LIBF).

The qualification equips young people with the skills to appreciate and manage their finances effectively, covering topics such as personal budgeting, money management and careers in the financial services industry.

Principality’s support has come as part of the Welsh Government’s Business Class scheme, which establishes links between employers and schools across Wales, to provide careers support and funding in health and wellbeing activities. Llanishen High School was one of 19 schools across Wales to have received the funding from Principality in 2020, with over 250 of those students from Llanishen receiving an A* or A grade.

Rob Wilson, Assistant Head Teacher, Llanishen High School said:

‘‘We’re immensely proud of our students for achieving the LIBF Level 2 Certificate in Financial Education and Careers Development. As a school, we want to ensure our students are best prepared for the future and the LIBF qualifications do just that, giving them the knowledge and skills to be able to make sound financial decisions when they leave school. Many students have told us how beneficial they have found the qualification. As well as the key life skills learnt, the GCSE equivalent qualifications have also helped students progress onto colleges and universities. Principality’s support has been invaluable to the school, helping us to offer the qualification to the majority of students in year 11.’’

Iain Mansfield, Chief Operating Officer at Principality Building Society said:

‘’It’s so important that we equip young people with the skills to be able to manage their finances effectively in the future and the qualifications from the LIBF are a fantastic way to engage students in the subject of financial education.

‘’Llanishen High School have been on a fantastic journey to promote financial education throughout the school, with the number of students studying for the qualifications jumping from 18 in 2017 to 470 students in 2020, an incredible achievement which highlights the importance of preparing young people to become financially confident.’’

Simon Bocca, Managing Director of Pay Captain, which combines payroll with financial education for employees, believes early financial education is essential if we are to create a debt-free future for young people.  Simon said:

“Research shows that money management isn’t a natural skill, it is one that is learned, and it’s an area where employers are increasingly having to support staff because money worries at home impact on employee wellbeing and their performance at work.  It’s great to see the Principality funding this important initiative, giving young people this essential life skill.  Hopefully other lenders will follow their example.”

Debi Howell, Financial Capability Relationship Manager, The London Institute of Banking and Finance said:

“Llanishen High School have really embraced financial education in their school and ensured that all of their Year 10 and 11 students are well-equipped with financial skills for the future, as well as gaining an important qualification for their CV. We’re so pleased that Principality is supporting financial education in this way, and it has been really rewarding to work collaboratively with them.”

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Lisa Baker is the Editor of Always Finance, and writes about Business, Finance Technology and Healthcare. Lisa is also the owner of Need to See IT Publishing.