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NEWS RELEASE
EMBARGO: 00.01 hours, Tuesday 10 February 2004 PR 5/04
MONEY MATTERS TO ME - LAUNCH OF NIACE
FINANCIAL EDUCATION WEBSITE FOR ADULTS, SUPPORTED BY PRUDENTIAL
1.5 million households in Britain
(7%) lack any financial products at all and a further 4.4 million
(20%) are on
the margins of
financial services (see note (a) below).
It is therefore
more important than ever that people
are able to understand basic money matters.
The National Institute of Adult Continuing
Education (NIACE)
has been working to improve financial
education among adults since the mid
1990s and, with the help of Prudential,
is today launching its financial education
website, www.moneymatterstome.co.uk
at the House of Commons.
 NIACE's
on-line financial learning resource,
www.moneymatterstome.co.uk,
provides a free and comprehensive set
of materials including interactive workshops,
information and exercises. Aimed at
adult tutors and adult leamers - particularly
women aged 25 to 50 and their families
- the website is easy to use and guides
individuals through a range of financial
problems.
 Prudential,
a leading life and pensions provider
in the UK, carried out a Financial Literacy
Survey in September 2003. This showed
that 9 out of 10 adults (88%) believe
that there's a need for more education
and training about financial matters
and the Financial Services Authority,
has responded to the public's demand
for more financial education with its
recent establishment of a Financial
Capability Steering Group.
 Alan
Tuckett, Director of NIACE,
said, "Finance is something which
dominates people's lives in all kinds
of ways, especially those who are poor,
unable to save, or in debt. It is therefore
important that financial skills are
developed alongside other skills such
as literacy and numeracy and we hope
that www.moneymatterstome.co.uk
will prove instrumental in helping people
to develop their financial skills"
 Sir
David Clementi, Prudential plc Chairman,
said, "The work NIACE
and Prudential
are doing is important, not least because
we are discovering the best way of delivering
financial education is through existing
points of contact as NIACE
is doing by promoting adult learning
Financial education is a key issue for
us as nobody benefits from confused
consumers. Today's event brings together
a range of policymakers and opinion
formers to share ideas and take the
agenda forward".
Dr
Alan Clarke, NIACE's Senior Development Officer (ICT), said, "The
launch of this website is very welcome. With the support of Prudential,
we will continue to improve this on-line resource and over the
coming months we hope to provide additional guidance materials
for tutors".
- ENDS -
NOTES
1. More information from NIACE Senior
Development Officer, Alan Clarke, (direct line - 0116 204 4239),
(email - alan.clarke@niace.org.uk).
2. The launch took take place
at an afternoon reception in the Attlee Suite, Portcullis House,
Westminster on Tuesday 10`h February
2004 from 4.OOpm to 6.OOpm. It was supported by the All Party
Parliamentary Group for Further Education and Lifelong Learning.
3.
Prudential's Financial Literacy Survey was conducted by MORI
in September 2003. A nationally representative quota sample of
1,101 British adults aged 15+ was interviewed throughout Great
Britain on the MORI Omnibus, across 190 sampling points. Interviews
were carried out using CAPI (Computer Assisted Personal Interviewing),
face-to-face in respondents' homes between 19 and 21 September
2003. The survey showed:
- Nearly 9 out of 10 adults (88%)
agree there is a need for more education and training in financial
matters.
- 6 out of 10 adults (59%)
feel that their education did not sufficiently prepare
them to deal
with their personal
finances.
- Independent. non-prolit-making
organisations such as Citizens Advice (47%) and schools
and education centres (27%)
are the two preferred organisations to take the lead in
improving personal finance.
4. During its pre-launch
phase in January 2004 www.moneymatterstome.co.uk had just under
6,000 users.
5. The National Institute of Adult
Continuing Education is the leading non governmental organisation
for lifelong learning.
It is a charity and company limited by guarantee. Its members
come from all sectors of post-16 education. (a)
Collard, S, Kempson, E and Whyley, C (2001) - Tackling
financial exclusion: an area-based
approach. The Policy Press. |
