Teaching Whitechapel children to manage money comes to Thomas Buxton School

PUBLISHED: 16:21 30 March 2017

Thomas Buxton School... financial 'power house' of the future? [Google street image]

Thomas Buxton School... financial 'power house' of the future? [Google street image]


Children as young as five are to be taught how to manage their pocket money and personal finance to be ‘moneywise’ in later life as part of the curriculum.

Their school in London’s East End has been selected to join a nationwide financial education programme with a high street bank.

The teachers at Whitechapel’s Thomas Buxton Primary are being trained by a money specialist to be able to carry out personal financial education which is being built into the school’s curriculum, just like in secondary education.

“It’s important for the children to manage their money well throughout their lives,” headteacher Lorraine Flanagan said.

“These skills don’t come automatically—they need to be taught. It’s our responsibility to prepare them for adult life, so we believe embedding financial education into our curriculum is a necessity.”

The programme is a partnership between Young Enterprise financial education charity and the Santander banking group.

The lessons have activities, drawing on the charity’s 55 years’ experience of helping educators in schools and colleges.

The charity’s chief executive Michael Mercieca said: “Our aim is to make sure all children enter adult life with the skills and confidence to manage money well. The work teachers will be doing with our educational specialists over the coming months will help the pupils as part of the curriculum.”

The Santander bank is supporting Buxton Primary to get ‘centre of excellence’ status during the next school year, to become a ‘beacon of best practice’, helping other Tower Hamlets schools teach financial awareness to pupils. The school is one of 115 across the country taking part in the programme.

The idea of financial education for children as young as five is new, although awareness among secondary school pupils has its roots in London’s East End with the MyBank charity in Spitalfields running programmes since 2007.

MyBank teaches pupils from age 11 and older youth groups how to manage their money and understand financial products like pensions and government spending, which became part of secondary National Curriculum in 2014.

The charity is backed by some of Britain’s biggest trusts and foundations including JP Morgan Chase and the FT in Canary Wharf and the Big Lottery Fund.

Latest East London News Stories

Yesterday, 19:00

Tower Hamlets Council is to overhaul the way it awards grants to community and voluntary organisations (VCS) in the borough.

Yesterday, 14:41

Yobs have been banned by magistrates from going onto a housing estate in Whitechapel which has been plagued by drug addicts.

Yesterday, 11:49

Older people in Tower Hamlets are being trained in classical dance by the English National Ballet to commemorate a century since the end of the First World War.

Yesterday, 08:18

Police are looking for the driver of a suspicious vehicle which sped away as they approached and was a then in a hit-and-run incident in Spitalfields yesterday.

Wed, 15:17

One thousand people left their offices following a basement blaze in Canary Wharf this afternoon.

Wed, 13:06

Campaigners have finally sunk plans for the controversial Enderby Wharf cruise-liner terminal going ahead which would have polluted a huge swathe of the Thames and the Isle of Dogs.

Wed, 11:00

An advice clinic set up as a temporary free service at Stratford following cuts to legal aid has won a funding contract for a permanent operation.

Tue, 18:00

Optician director Jayesh Maru has seen his way to the ancient mountain-top Inca capital of Machu Picchu and has found his way back to east London.


Are you a landlord looking for a fixed rental income, paid whether the property is empty or not? Steve Westley, general manager at estate agents Elliot Leigh, explains their Guaranteed Rent Scheme and how it takes the stress out of letting your property.

Newsletter Sign Up

East London Advertiser twice-weekly newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

Most read news

Show Job Lists

Digital Edition


Enjoy the
Docklands and East London Advertiser
e-edition today


Education and Training


Read the
Education and Training
e-edition today

Read Now