BUDGET IS HIGH ON THE AGENDA.

Byline: David Whinyates

STUDENTS at Birmingham Metropolitan College received a lesson in financial literacy and money management skills as part of the recent Money Week.

In conjunction with independent education charity, the National Skills Academy Financial Services (NSAFS), students from the college's MET Academy for Financial Services Skills ran financially-themed stalls to highlight to their fellow students the importance of becoming more money-minded. Activities included competitions to guess the number of coins in a jar, a promotion of fair trade goods and the distribution of finance-related information.

BTEC business and finance student, Alyse Richardson, said: "We wanted to show students that in a world of direct debits and credit cards it's really easy for us to lose track of our money.

"By reminding people that money has a physical value, we hoped that they might think twice about how they make their next purchase and whether they can really afford it."

Other students created a display of price comparison goods aimed at budding university students that may need to live on a budget.

Soft drink cans were also on sale for 25p to highlight how much people could save if they brought their own drinks in from home, instead of buying on impulse from local shops. The activities produced all sorts of reactions as students realised how much money they could save by being better prepared, as well as by shopping around and comparing the prices of brand leaders with acceptable "own brand" alternatives. "The aim of Money Week was to encourage our students to make an effort to understand more about spending and saving opportunities, as well as learn how to resolve any financial difficulties they may experience," explained tutor, Susan Williams.

"They were also asked to make a money pledge where they made a commitment to manage their money better, something that hundreds of students signed up for."

Money Week forms part of Money for LiFE, the further education project of the Financial Services Authority's (FSA) National Strategy for Financial Capability. NSAFS manages and delivers the programme across England, aiming to enhance the financial capability of more than 30,000 learners across 75 FE colleges during this academic year.

The National Skills Academy for Financial Services offers national centres of excellence in education, skills training and development, working in partnership with employers to develop a workforce with the knowledge and skills they need to help service their customers' financial needs.

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All adds up: Students (from left to right): Laura Speakman, Alyse Richardson and Laurie Williams.