Project information

Making Sense of Pounds and Pence

In the 2011-2012 academic year, Mesila UK will reach out to 500 young people at tertiary education institutions in London, the North and the North East of England and provide them with comprehensive courses in sound financial management, endowing them with vital skills for their adult lives.

September 2011 - September 2012

Charity information: MESILA

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  • Need

    Need

    Financial skills are not currently taught in most tertiary institutions. This lack in the average student’s education puts them at high risk of incurring large amounts of debt and puts them at a serious disadvantage in adult life.

    Solution

    Mesila’s Financial Education Program will change young peoples attitudes about financial management and will enable them to live within a budget. We will provide the practical tools these young adults need in order to live responsibly, while teaching them the value of financial independence and the power inherent in taking charge of one's finances. Prevention is better than cure (Desiderius Erasmus).

  • Aims

    Aim 1

    To provide correct financial management courses to 500 young people in the 2011-2012 academic year.

    Activities

    » Engage with tertiary institutions and elucidate them of the vital need to include Mesila's financial management program in their currriculum.
    » Prepare a relevant curriculum and resources specific to the target audience.
    » Train a team of educators to teach the financial management courses.

    Success will be delivering the full course curriculum to 500 young people throughout the 2011-2012 academic year.


  • Impact

    Impact

    'Making Sense of Pounds & Pence' will create a complete turn-around in young peoples attitudes towards money, debt, needs and wants. We will monitor the project for the duration of the academic year to assess teaching methodology and effectiveness and will also be conducting long term monitoring using extensive surveys to observe retention of the skills aquired as a result of the project.

    Risk

    The major risk to this program is resistance from some educational establishments, who may not wish to incorporate our course into their existing curriculum, and from some students, who may not be interested in the topic. We will deal with this by advising the educational establishments of the long-term benefits they will be affording their students and by providing appealing lessons and high quality resources which will positively engage the young people involved.

    Reporting

    Donors to this project will receive periodic reports by email regarding the project throughout the academic year, detailing the ongoing activities. They will also be provided with reports showing evidence of long term benefits and of project duplication.

  • Budget

    Budget - Project Cost: £40,000

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      Amount Heading Description
      £9,000 Teacher Training Train 5 Teachers to Deliver Courses.
      £11,500 Resources Preparation of Curriculum & Resources Acquisition.
      £8,500 Project Administrator To Administer and Monitor Project (incl. expenses)
      £6,500 Monitoring Project Monitoring & Evaluation
      £4,500 Promotion Promotion and Publicity of the project to Prospective institutions & Pupils.
  • Background

    Location

    'Making Sense of Pounds & Pence' will debut at Institutes of tertiary education within the Orthodox Jewish Communities of London, Newcastle & Manchester. The students at these colleges do not currently have access to courses of this genre.

    Beneficiaries

    The 500 course attendees in 2011-2012 will be the first beneficiaries of 'Making Sense of Pounds & Pence'. A successful delivery of the project will ensure that future students at these tertiary institutions will also benefit from this comprehensive program. Mesila UK hopes that our program will gain repute throughout the educational world and will happily provide assistance to any other establishments wishing to duplicate our program.

  • Why Us?

    Why Us?

    Mesila has a decade of experience in providing financial counselling to individuals, families and businesses in financial difficulty in Israel, the US and UK. This experience has enabled us to form a curriculum that can prevent the most common causes of financial distress from occurring, using basic financial management techniques and inculcating the importance of being in control of your finances and of the dangers of incurring debt.

    Read more about the Charity running this project.

    People

    Batya Wineberg

    Batya successfully manages a very similar program in Israel and will bring her expertise to the UK as project administrator.