Students given lessons on managing future finances (From Worcester News)

Students given lessons on managing future finances

2:20pm Wednesday 20th February 2013 in News

SPA students have been given valuable lessons on how to manage their future finances.

A group of year eleven pupils at Droitwich Spa High School, Briar Mill, have been taking part in workshops designed to give them valuable financial advice and help them manage their affairs later in life.

The three hour long workshops were delivered by Louise Lewis who has had 15 years experience as a private banking manager with a large high street bank, but who left to establish her own company specifically to offer advice to younger people.

Mrs Lewis said: “The idea of these workshops is to get students thinking about how far money has to stretch and the importance of planning and managing money carefully to ensure bills are paid. In each session, students are given cases to look at that give details of a fictional person and details of their occupation, earnings and their personal and financial situation. The students then embark on translating that income into how much would be received at pay day, showing how tax and national insurance, pension contributions and the like impact upon what people actually have to live on.”

Teacher Rebecca Piesse said: “This kind of information is so valuable for younger people as it teaches them life skills that are often simply not present in the regular curriculum.