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2024-07-31-accounts

Wizeup Financial Education | Annual Report 2023-2024 , j i. TOGETHER WE CAN ACHIEVE GREATNESS

CONTENTS

CHAIR TRUSTEE STATEMENT

CEO’S MESSAGE

FOUNDER & PRESIDENT MESSAGE

OUR ASSOCIATES & YOUTH ADVISORY PANEL

OUR PARTNERS

OUR IMPACT

SEND & PRU PROGRAMME

FINANCIAL STATEMENT

WizeUp Financial Education | Annual Report 2023-2024

CHAIR TRUSTEE STATEMENT

It is with continued pride and pleasure that I present the 4th annual Trustees Report of WizeUp Financial Education on behalf of my fellow Trustees; Elma Morris, Saskia Perriard, Gemma Dunbar and Derek Stew. The last year has been one of significant transition for us with Mike Flack moving up from his role as Head of Strategic Planning to that of CEO as Founder Ed Flack eases into a well-earned retirement.

We are very pleased to say that Ed has accepted the title of Founder and President and he will continue to provide his invaluable experience and advice in a consultative role. We are already seeing benefits from Mike’s approach to the role which continue to underpin and maintain the well-established core values of WizeUp Financial Education.

The education of our young people surrounding the topic of financial literacy continues to be confirmed as being of critical importance, not only in the continuing, stressful financial conditions, but as an essential life skill. It is a skill that is of equal importance to the family and wider community and, whilst our core values are to be impactful, engaging, adaptable and inclusive, it remains our ongoing mission to give young people the essential financial skills for adult life. We have also noted and made particular effort to address the needs amongst SEND and PRU students. This has been seen through the adaptation of our programme that is led by Laura Flynn and I look forward to seeing its continued progress over the coming academic year. The appointment of our new CEO coincided with our establishing a new Board of Trustees and we have worked hard with Ed, Mike and each other to achieve a smooth transition. In particular, building on the strategic work that Mike had already started with our Associate, Mona Vadher. This continues to be a primary focus for the team together with necessary monitoring and maintenance of each aspect of governance.

We were delighted to welcome new sponsors during the 2023-2024 academic year, with Skipton Business Finance joining in March. Furthermore, we were very pleased to achieve some core funding from the MG Community Fund. That said, my continous grattitude must be expressed to Bath, Buckinghamshire, Chorley, Darlington, Earl Shilton, Hinckley & Rugby, Mansfield, Market Harborough, Newbury, Penrith, Saffron and Vernon Building Societies, as well as Eldon Financial Planners and GreenSky Wealth for their continued support. Without them we truly would not be able to reach the amount of students we reach year upon year. A special thank you must be given to the Jack Petchey Foundation, who have sponsored for us to visit 125 schools next academic year, along with a further 25 SEND & PRU organisations in London & Essex. We are truly thankful for everyones support and look forward to achieveing even more next year.

Whilst we have inevitably lost some of our valued Associates as they move on to develop their respective careers elsewhere, we have also been fortunate enough to recruit new Associates and in fact extend our team to meet the increase in demand. I would like to express a warm welcome to Marie Foster, Luisa Guerreiro, Smira Javed and Katharine Matthews to WizeUp and hope they enjoy their time with us in what will be an exciting year ahead.

Within our Associates we are also very fortunate to benefit from considerable Administrative skills which are again essential to our development. Sophia Mousoulides, Lee Giles and Laura Flynn have all become Senior Associates with each of them leading their respective programmes. Only with their skill and effort have we been able to ensure a smooth transition and I know they will be key to Mikes ambitions for the upcoming academic year. Our seven person YAP has now been operational for over a year and provided valuable critique of our content in respect to the various year groups. They have also presented a number of podcasts in conjunction with Ed and been working with Lee Giles to establish greater marketing strategies. Finally, I would like to re-iterate my thanks to our partners, the WizeUp team and, most importantly, the schools we visit. We can’t wait to give more young people the essential life skills for adult life.

Alan Walters

Chair Trustee, WizeUp Financial Education

WizeUp Financial Education | Annual Report 2023-2024

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CEO’S MESSAGE
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New foundations, new partners, new records - this academic year has been one of change for WizeUp Financial Education.

It is the perfect opportunity for us all to stop and reflect on the achievements of our Associates, our YAP, but most importantly, the young people we serve.

It was just over a year ago our Founder, Ed, finalised his intention to step away from the day to day runnings of WizeUp. Being his son, there was not a moments hesitation to pick up the baton and try to drive the charity in the direction he invisioned. Although this is just the beginning, the past nine months would not be possible at all without our incredibly hardworking Associates, YAP members and supportive Trustees. I was pleased that we were all able to come together on the 1st July to celebrate our achievements. I can’t thank everyone enough.

Our achievements went beyond the classroom this year, with our YAP increasing by another member, taking the total number to seven. We also started our ‘WizeUp Pathway Programme’ which has allowed for those YAP members who are now 18 and above to be incorprated a little more into our day to day runnings. Both Emma Berwick and Jade Carnaje are the first to be inducted into the new programme and I very hope they both get the opportunities they wish to expand and learn new skills. Should this work well, it gives WizeUp the opportunity to recruit from within should our YAP members wish.

This academic year is also an exciting time for our charity as we start our SEN & PRU Programme, led by Laura Flynn. As soon I joined WizeUp Financial Education, I wanted to see our delivery in both an SEN and PRU environment, especially as both sets of students are very different with regards to their educational provision. Within minutes I was excited with what I saw. Some of the students who were low on confidence, blossomed within the sessions and I can’t wait to see what we achieve this year.

WizeUp will always put the positive impact of the communities we see at the centre of what we do. We achieved our target of seeing over 30,000 students, by reaching 35,566 students around England across a record breaking 69,668 students hours. This is an increase of 11,566 students compared to last year. 98% of teachers who responded to our surveys wanted us to return next year and 92% of students said we increased their confidence in money management. Nonetheless, we also received constructive feedback from our schools and partners. We have used the summer to enhance our delivery as we embark on a new year of opportunity.

Michael Flack

CEO, WizeUp Financial Education

WizeUp Financial Education | Annual Report 2023-2024

FOUNDER & PRESIDENT’S MESSAGE

When the first seeds of WizeUp were sown back in 2011 as a small not-for profit company offering financial education seminars to a handful of schools I had little idea that we would develop into a charity working with over 30,000 students every year. Of course this would not have been possible but for our partners, both old and new, who have funded our continual growth and have allowed us to work with them in supporting their local schools.

Now I have stepped back from the day to day running of WizeUp I get a huge sense of pride and satisfaction watching how our dedicated CEO and Associates share my vision on providing relevant and engaging financial education to secondary schools up and down the country. I am supremely confident that under Mike’s stewardship, supported by our amazing Associates and dedicated Trustees, the charity will continue to flourish and meet new challenges that manifest themselves along the way. Of course it has taken a little while for me to adapt from the day to day involvement with schools and students to my new advisory role but it is one I am enjoying. My thanks again to Mike and the Trustees for inviting and also encouraging my continued involvement.

I am honoured to have been made President of our wonderful charity and I will continue to support it in any way I can. This will never change.

As to the future? Well for me a little more free time and the opportunity for a little more voluntary work supporting young people. For our charity I look forward to watching the implementation and growth of our new SEND/PRU programme. Positive results as we continue to strive for new partnerships and an opportunity to grow our core funding stream. And of course continued growth of our existing mainstream school programmes, both in numbers of students served in different areas of the country and also seeing new topics being added to meet the ever changing needs of young people when it comes to financial resilience after school. Here’s to a successful 2024/25!

Ed Flack

Founder & President, WizeUp Financial Education

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WizeUp Financial Education | Annual Report 2023-2024
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OUR
ASSOCIATES &
YOUTH ADVISORY PANEL
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This academic year was record breaking for both our Associates and our YAP Members. Our fourteen Associates delivered more than 500 sessions to 35,566 students across 69,668 student hours. Meanwhile, our YAP members were the first to be invited onto our ‘WizeUp Pathway Programme’.

When you combine what we as a charity achieved last academic year, we have seen 59,566 students across two academic years across a staggering 112,104 student hours.

This academic year we covered the following topics:

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AT A GLANCE
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14 Associates

181 Schools Visited 542 Workshops Delivered

WizeUp Financial Education | Annual Report 2023-2024

The WizeUp Associate Framework 2024 - 2025

Next academic year, we will have a new frame work in place to help us streamline our service.

Lee Giles Laura Flynn Sophia Mousoulides Sophia Mousoulides
Head of Outer London Mainstream School Programmes Head of SEN & PRU Programmes Head of London Mainstream School Programmes
Jim Rastall Mel Sneath Luisa Guerreiro Tasha Ashman-Banks Samina Kiyani
(North West) (Midlands & Lincolnshire) (North London) (East London & Essex) (Central & North London)
Katharine Matthews Andy Giles Ash Shashtry Susie Eyton
(North East) (Buckinghamshire) (South London) (West London)
Marie Foster Smira Javed Luke Murray
(Midlands) (East London) (North London)

ASSOCIATE UPDATE

Laura Flynn and Jim Rastall began their first full academic year with WizeUp Financial Education, with Susie Eyton joining us in January. With the charity delivering more sessions, more student hours and reaching more students, it is important that we assessed our internal and external communications. Therefore, we have decided that from next year schools will have three contact points depending on the respective schools geographics or educational provision. These will be led by Sophia Mousoulides, Laura Flynn and Lee Giles, who have all increased their hours during our change of leadership. Samina Kiyani and Luke Murray have been a continued presence in North London generating 66 hours and 45 mins delivery time between them.

Our CEO, Michael Flack, will still be maintaining contact with our valued partners as we look to increase the experience our sponsors receive. As of next academic year, we are looking to boost the exposure of our partners, especially those outside of London. As with any organisation, we want to make sure we are delivering maximum impact to a first class standard. Therefore, from September 2024, we will have our Associate Development Team, led by Andy Giles and Ed Flack with the aim of increasing our learning visits and identifying the positive work being completed around the country, whilst sharing good practice. Andy was one of the first Associates to join the charity, turning it from a one man band to a two man mission. He has a wealth of experience in the education industry where he has held leadership positions, most recently Head of Sixth Form at Clare’s Court. Andy will be taking a step back from London based programmes, however, will still be operating in Buckinghamshire.

Muhammad Damji and Liz Knapper will be taking a step back from their roles as Associates. They have both always been received incredibly well by all of the schools and students they have worked with and we hope that they can still complete the odd presentation should their diary allow. Both Ash Shastry and Tasha Ashman-Banks will reduce to one to two sessions per month due to their growing working schedules, therefore, we are delighted to welcome both Luisa Gurreiro and Smira Javed as our new Associates for London, whilst Marie Foster arrives to strengthen our position within the Midlands. Finally, to replace Liz, we have recruited Katharine Matthews in the North East.

WizeUp Financial Education | Annual Report 2023-2024

OUR PARTNERS IN NUMBERS

1,700 STUDENTS

3,100 STUDENT HOURS

1,760 STUDENTS

3,010 STUDENT HOURS

2,175 STUDENTS

4,110 STUDENT HOURS

200 STUDENTS

800 STUDENT HOURS

300 STUDENTS

300 STUDENT HOURS

390 STUDENTS

1,205 STUDENT HOURS

WizeUp Financial Education | Annual Report 2023-2024

OUR PARTNERS IN NUMBERS

630 STUDENTS 790 STUDENT HOURS

1,070 STUDENTS 1,495 STUDENT HOURS

20,940 STUDENTS 48,339 STUDENT HOURS

1,136 STUDENTS 2,116 STUDENT HOURS

1,125 STUDENTS 2,164 STUDENT HOURS

325 STUDENTS 325 STUDENT HOURS

WizeUp Financial Education | Annual Report 2023-2024

OUR PARTNERS IN NUMBERS

330 STUDENTS 495 STUDENT HOURS

1,695 STUDENTS 2,216 STUDENT HOURS

1,295 STUDENTS 2,883 STUDENT HOURS

CORE FUNDING PARTNER

Wizeup Financial Education | Annual Report 2023-2024 Market Harborough Newbury Building Society Penrith building Society UILDINts SOCIETY &G Saffron ernon Sbf. Buildingsociety Building Society Skipton Business Finance Bath Building Society THANK YOU .,,,,,,,,,, We're drff8wl becaw y¢xJ are BUILDING SOCIETY FOR YOUR SUPPORT WEALTH CHARTtREDANANCIALtUNNERS Chorley Building Society Foundation MANSFIELD BUILDING SOCIETY TRUSTED SIIKE 1154 Darlington Buildin9 Society esbs eldon as individual as you chartered Iind'iciol pldnners

WizeUp Financial Education | Annual Report 2023-2024

OUR IMPACT FOR 2023-2024 IN NUMBERS

WizeUp conducted sessions with 35,566 students in 181 schools, with 69,668 hours of engagement.

2 in 5 of the schools WizeUp works with have an above-average proportion of pupils eligible for Free School Meals.

92% of students reported an increase in their financial confidence after attending WizeUp sessions.

99% of teachers reported that WizeUp positively impacts students. With 98% saying they would recommend WizeUp to other schools.

Over half of the teachers saw an increase in the student’s self-belief regarding financial capability.

WizeUp Financial Education | Annual Report 2023-2024

OUR IMPACT IN WORDS

WizeUp has worked closely with independent impact specialists, Bean Research, to develop a comprehensive impact framework. This framework was crafted in consultation with WizeUp’s Trustees, staff, Youth Advisory Panel, and experienced educators, all sharing a unified goal: to understand and amplify the positive impact of financial literacy on young people. Bean Research, a Social Value International accredited practitioner, brought its extensive expertise in assessing the difference that skills and financial education can make to young people’s futures.

WizeUp is committed to reaching students from all backgrounds, and it is clear that the impact is felt across a diverse range of schools, from Grammar Schools to Pupil Referral Units. WizeUp is committed to ensuring financial literacy is accessible to all young people, regardless of their background or abilities. Nearly 1 in 10 schools visited by WizeUp cater to students with special educational needs and disabilities (SEND). Financial education is essential for everyone but people with disabilities face disproportionate financial challenges.

To understand the communities served, schools were analysed based on two key indicators of socioeconomic status - the Income Deprivation Affecting Children Index (IDACI) and FSM eligibility, both publicly available. This means a disproportionate number of children in these communities face the challenges of poverty, which can severely limit educational opportunities. And, while the national average for FSM eligibility is 24.6% of students, representing 2.1 million pupils, 42% of the schools WizeUp works with exceed this figure. However, WizeUp is committed to providing equal access to educational support, and therefore, its reach also includes the fact that 12% of WizeUp partner schools are situated in the top 20% of most affluent areas.

Some of the sessions WizeUp deliver in schools were coupled with engaging quizzes on topics that included Flat Sharing, Saving & Investing, Credit Cards & Credit Ratings, Student Finance, Cryptocurrency, Taxation & Pensions, and Budgeting & Earning Extra Money.. Students achieved an average quiz score of 73% across all topics, demonstrating the knowledge gained from the sessions. Students achieved the highest scores in Flat Sharing, Saving & Investing at 96%. This echoes the academic research that engaging sessions supporting students with better financial education would help them manage their money better.

One of WizeUp’s strengths is the ability to break down complex financial concepts into easily understandable terms and provide practice advice for students. 89% of students reported improving their understanding of financial jargon. This was supported by teachers surveyed, with 71% of them reporting that WizeUp increases students’ confidence in the future. More than half of the teachers saw an increase in the student’s self-belief related to financial capability. WizeUp’s sessions are also helping to alleviate the stress and uncertainty surrounding student debt. Over half the students reported feeling less anxious about their financial future if they chose to attend university.

WizeUp’s ongoing commitment to impact-driven strategies and rigorous evaluation underscores its dedication to creating meaningful, long-term change in the lives of young people, empowering them to take control of their financial futures and be prepared for adult life.

WizeUp Financial Education | Annual Report 2023-2024

WHERE DO WE DELIVER

Delivered in 181 schools during the 2023/4 academic year across England.

This year, WizeUp has been working to expand delivery from London and the Southeast with schools in the North East in Newcastle upon Tyne counties and the North West in Manchester. There is now an interactive map of WizeUp delivery. To see where WizeUp delivers in more detail, please scan the code below:

WizeUp is committed to reaching students from all backgrounds, and it is clear that the impact is felt across a diverse range of schools, from Grammar Schools to Pupil Referral Units. WizeUp is committed to ensuring financial literacy is accessible to all young people, regardless of their background or abilities.

Nearly 1 in 10 schools visited by WizeUp cater to students with special educational needs and disabilities (SEND). Financial education is essential for everyone but people with disabilities face disproportionate financial challenges. 1 in 3 adults with disabilities struggle to make ends meet, compared to 1 in 10 adults without

disabilities1 . By equipping them with the necessary skills to manage money, create budgets, and understand credit, WizeUp empowers them to achieve financial wellbeing.

There is also a real need to focus efforts where they are most needed in terms of socio-economic backgrounds, as there is a clear attainment gap: students eligible for Free School Meals (FSM) are significantly less likely to achieve strong GCSE results (47% vs. 75%)2 and face lower earning potential later in life. On average, at age 30, non-FSM recipients earn 1.3 times more than their peers who were eligible for FSM3 . Research consistently indicates that those on the lowest incomes are consistently least financially literate and, holding other factors constant, are more likely to have persistently rather than temporarily low savings levels4 .

28%5 of the schools WizeUp partner with are located in the most deprived areas of the country, with an IDACI ranking in the bottom 20%.

To understand the communities served, schools were analysed based on two key indicators of socioeconomic status - the Income Deprivation Affecting Children Index (IDACI) and FSM eligibility, both publicly available.

This means a disproportionate number of children in these communities face the challenges of poverty, which can severely limit educational opportunities. And, while the national average for FSM eligibility is 24.6% of students, representing 2.1 million pupils, 42%6 of the schools WizeUp works with exceed this figure.

However, WizeUp is committed to providing equal access to educational support, and therefore, its reach also includes the fact that 12% of WizeUp partner schools are situated in the top 20% of most affluent areas.

This wide range, from schools with just 2% to those with 89% of students eligible for FSM, underscores the socioeconomic challenges faced by WizeUp’s students.

  1. https://www.financialfairness.org.uk/en-gb/newsand-views/all-news-articles/disabled-people-financial-wellbeing

  2. https://researchbriefings.files.parliament.uk/documents/CBP-9209/CBP-9209.pdf

  3. https://www.ons.gov.uk/peoplepopulationandcommunity/educationandchildcare/articles/whyfreeschoolmealrecipientsearnlessthantheirpeers/2022-08-04

  4. https://ifs.org.uk/publications/characteristics-and-consequences-families-low-levels-financial-wealth

5.Source: 47/170 areas mapped with 2019 IDACI

  1. Source: 67/ 160 schools reporting to the government database

WizeUp Financial Education | Annual Report 2023-2024

STUDENTS

Our independent impact assessment indicates that WizeUp equips students with the financial knowledge and skills they need to succeed.

Three in four adults in the UK say they received either inadequate or non-existent financial education at school, and over two-thirds believe that better financial education would help them manage their money better7. The number of British 16-24-year-olds seeking help to manage their debt has increased by over 200%, with young people reaching out to the Financial Ombudsman Service for help with loans, overdrafts, and credit card debt . The research highlights the necessity for more accessible financial education, such as the WizeUp programme, for young people.

WizeUp’s programme covers a wide range of essential financial literacy topics. WizeUp delivers six sessions on financial literacy: Flat Sharing, Saving & Investing, Credit Cards & Credit Ratings, Student Finance, Cryptocurrency, Taxation & Pensions, and Budgeting & Earning Extra Money.

INCREASED COMPETENCE

The interactive sessions in schools are coupled with engaging quizzes on these topics. Students achieved an average quiz score of 73% across all topics, demonstrating the knowledge gained from the sessions. Students achieved the highest scores in Flat Sharing, Saving & Investing at 96%. This is important as academic research conducted about money management asked what adults wish they had been taught at school; the top answer from over half of adults was savings and pensions , showing the importance of

OUR IMPACT IN DEPTH

confidence after attending WizeUp sessions. 71% of teachers report that WizeUp increases students’ confidence in the future. More than half of the teachers saw an increase in the student’s self-belief related to financial capability.

increasing their competence in Flat Sharing, Saving, and investing.

This echoes the academic research that engaging sessions supporting students with better financial education would help them manage their money better.

This aligns with broader research, such as the OECD’s findings on Adult Financial Literacy, which found that people who rated their financial knowledge as being higher than average were fairly accurate in their assessment. People with strong financial confidence display financially capable behaviours such as active saving, keeping track of their budgets and shopping around11.

86% of students reported enjoying the sessions, with Budgeting and Earning Extra Money, Flat Sharing, Saving & Investing, and Student Finance emerging as the most popular sessions.

One of WizeUp’s strengths is the ability to break down complex financial concepts into easily understandable terms and provide practice advice for students. 89% of students reported improving their understanding of financial jargon.

WizeUp empowers students to make informed decisions by myth-busting and providing clear explanations, and is seen as building a foundation of financial literacy for students by providing accessible, engaging, and informative financial education.

While some students already possessed a solid foundation in certain areas, such as the 24% of students who participated in the Budgeting & Earning Extra Money module, half still reported feeling much more confident as a result of the session.

INCREASED CONFIDENCE

Financial confidence is important for good financial literacy and wellbeing. Academic Research demonstrates its vital role in enabling people to save, plan for the future, and make sound financial decisions. The Financial Capability Survey found that 39% of adults (20.3 million) lack confidence in managing their money10.

The Flat Sharing, Saving & Investing topic has been particularly impactful, with 2 in 3 (67%) students reporting much more or very confident after the session.

  1. https://www.fincap.org.uk/en/articles/key-statistics-on-uk-financial-capability

11.https://www.fincap.org.uk/en/articles/what-is-financial-confidence-and-how-can-we-improve-it

92% of students reported an increase in their financial

WizeUp Financial Education | Annual Report 2023-2024

CHANGE IN FINANCIAL BEHAVIOUR

The aim of the sessions is to empower students to make positive behavioural changes and take control of their finances by implementing practical steps, whether creating a budget or saving plan or discussing how they manage money with friends.

48% of teachers reported that WizeUp encourages students to practice their learning during sessions, and 81% of teachers reported that WizeUp increases students’ opportunity to have ownership of decision-making.

Some students are inspired to have open conversations about money with their parents or carers. As one student from Chelmsford County High School for Girls shared, “I hadn’t thought a lot about student finance yet, so this was a great introduction and a reminder to talk about it with my parents as soon as possible.”

Others have set the intention to create and stick to budgets. A student from Sedgehill Academy stated, “I now have a lot more knowledge on budgeting, and I would like to try and do this in the future when I go to university and also try to budget when I start working on weekends soon.”

At Little Heath School, students with autism are demonstrating newfound financial literacy by actively managing their money during community outings. The Head of the Sixth Form noted, “Students now are bringing their bank cards to use in community trips and checking the balance on their receipts, then discussing the impact of not carrying cash.”

WizeUp’s sessions are also helping to alleviate the stress and uncertainty surrounding student debt. Over half the students12 reported feeling less anxious about their

OUR IMPACT IN DEPTH

financial future if they chose to attend university.

The research demonstrates that setting an intention to act and increasing confidence in financial capability leads to a positive change in financial behaviour.

  1. Source: 52% of 1,207 Students

TEACHERS

WizeUp has worked with 181 schools this year, the majority of which are mainstream secondary schools or colleges. Of these schools, 91 teachers shared their feedback on WizeUp’s sessions. Teachers praised the sessions for their relevance and engaging approach.

As covered, WizeUp worked with a diverse range of schools and students; because of this, WizeUp tailors sessions to meet the requirements of different student groups. And school find that having an independent expert come in to teach the students is more impactful.

INCREASED COMPETENCE

WizeUp teaches financial literacy to students and supports teachers in developing the knowledge and confidence to talk to their students about financial education.

More than half of teachers currently delivering financial education find it challenging. A similar proportion of these teachers do not currently have access to training or time to be trained13. By having an external provider teach financial literacy, it allows teachers a chance to watch the session and develop their competence.

Over half of the teachers reported being more aware of young people’s financial concerns after sessions with WizeUp.

Not only do teachers find the content of financial literacy challenging, but discussing money in a school setting can be hard; research reports show that teachers find it challenging to make the subject feel relevant while being sensitive to differences in individual circumstances14.

After WizeUp’s sessions, 64% of teachers felt more confident about teaching financial literacy. As teachers observing WizeUp sessions, Budgeting & Earning Extra Money was the topic teachers found the most useful, at 27%, followed by Student Finance (12%) and Saving & Investing (11%).

  1. https://www.young-enterprise.org.uk/wp-content/ uploads/2023/02/APPG-inquiry-June-2022-Survey-ofUK-primary-and-secondary-teachers-report.pdf

  2. https://www.young-enterprise.org.uk/wp-content/ uploads/2023/02/APPG-inquiry-June-2022-Survey-ofUK-primary-and-secondary-teachers-report.pdf

WizeUp Financial Education | Annual Report 2023-2024

LEARNING & ADAPTING

While teaching financial literacy is a curriculum requirement, 62% of teachers asked in a study say that there is insufficient time to deliver within the timetable, and 60% report a lack of access to high-quality resources, demonstrating the hurdles in place for teachers in this area15.

WizeUp’s delivery has helped 82% of teachers develop their school’s financial literacy offering, with 26 teachers saying it helped them generate new ideas and approaches.

63% of schools want to adapt their delivery of financial literacy education due to the WizeUp sessions but have yet to be able to. At the same time, 11 schools have already changed their delivery by embedding it into the PSHCE curriculum, using WizeUp resources or booking WizeUp for more classes.

99% of teachers reported that WizeUp positively impacts students, and 98% would recommend WizeUp to other schools.

  1. https://www.young-enterprise.org.uk/wp-content/ uploads/2023/02/APPG-inquiry-June-2022-Survey-ofUK-primary-and-secondary-teachers-report.pdf

OUR IMPACT IN DEPTH

FINANCIAL PARTNERS

WizeUp has collaborated with 19 financial partners to deliver financial education to 181 schools. 85% of WizeUp’s Financial Partners surveyed have witnessed firsthand how WizeUp challenges misconceptions about personal finance among students and builds up their money management skills.

“Our work with WizeUp and the ten local state schools we have worked with has been great. Allowing young people access to financial education is really important to the Society. If there is a way our colleagues can get involved through volunteering, that would be great.” Bath Building Society

The partnership has empowered 71% of partners to deepen their understanding of the financial challenges facing young people. WizeUp is working to foster engagement with Financial Partners to share their knowledge and experience with students

“I attended two of the WizeUp sessions; the section around earning income and paying tax was a real eye-opener in the sessions I attended; I think more time could be spent on this part as it was quite impactful.” Vernon Building Society

43% of Financial Partners have actively engaged their employees in volunteering with WizeUp, through work experience for students and volunteering at a career day conducting mock interviews. And 57% of Financial Partners have expressed interest in future involvement.

“Have factored finance workshops in the lead-up to the summer break when students are more likely to be making financial decisions. Excellent sessions and we will be booking again for next year!” Associate Director, Sixth Form, Featherstone High School

“Every session has been engaging and relatable to students so they can learn how important it is to manage your finances as a young adult. I would absolutely recommend the programme to other schools to support their financial literacy education - confident that the students are being taught up to date and have the right content!”

Assistant Head, Year 12, Harris Academy Sutton

WizeUp Financial Education | Annual Report 2023-2024

STUDENT FEEDBACK WE’VE RECEIVED

“I thought the student debt would be worrying; however, it’s taught me that the student debt will be repaid over time and depending on my income”

“I have learnt the four essential categories I need to split my income into and why having each of those categories is important. I understand the importance of keeping a balance between savings and spending, and I will be more confident going to university with how to manage my income and debts.”

“I did not know that cryptocurrencies were so risky to invest in, so it was good to learn about their volatile nature. It was also useful to learn about saving vs investing and the importance of saving.”

WizeUp Financial Education | Annual Report 2023-2024

SEND & PRU PROGRAMME 23 - 24

OUR SURVEY RESULTS HAVE FOUND...

• 100% of teachers agreed that WizeUp created a positive impact on students development.

• 100% of teachers strongly agreed that our presenters did an excellent job of engaging with the students.

• 100% were very satisfied with the quality of the content and would recommend WizeUp to other schools and colleagues.

WHAT DID THIS CONSIST OF?

Led by Senior Associate, Laura Flynn, the SEND/PRU programme consists of four modules delivered over four X 2 hour workshops.

In discussion with the teachers in the school and depending on the ability of the students in the classroom, each session is flexed, and tailor made, to ensure the best learning outcomes are achieved. We also respond to the students interests if we can. For example, in Harlow Fields school the students asked what VAT was, so we incorporated this into a class.

Teachers are especially grateful for this tailoring because we have been able to tie in with their wider curriculum learning and teaching objectives. Little Heath school for example used a written budgeting task that we developed especially for their students ability level to contribute toward the students’ formal submission for their qualifications.

Whilst SEND/PRU students are a very mixed group of students’ behaviours tend to be magnified at all ends of the spectrum. They can often be particularly shy and anxious or can be very loud and unruly. Behaviours can be challenging. Many have ADHD or are on the Autistic spectrum. Importantly though, all the students are vulnerable and need help to raise aspirations and especially to understand financial matters.

The academic ability varies from very bright to those students needing additional support. It is therefore important to spend the first session helping them feel comfortable with the class, so they get used to the WizeUp Associate leading their session, and confident to ask questions. All the sessions involve lots of movement within the room, group work, pairs work, post it notes and interactive activities.

“We try to involve ‘money’ in our math curriculum, but it is more useful to have experts come in and deliver sessions that are meaningful to students using the math skills we teach them in lessons.”

6th Form Lead at The Courtyard School, Specialist SEN School

WizeUp Financial Education | Annual Report 2023-2024

FINANCIAL STATEMENT

Financial Statement for Year Ending 31[st] July 2024
Income
£		 Expenditure
£
Opening balance b/f
36,819.00		 Preperation and Recruitment
2,274.00
Building Society Donations
66,025.00		 Workshop Delivery
33,771.00
School Donations
14,360.00		 Web Administration
593.00
Restricted Charitable Grant
72,475.00		 General Administration
68,236.00
Other Donations
2,300.00		 Travel and Gifts
14,978.00
Other Income
222.00		 Office Supplies and YAP
15,766.00
Sub Total
135,618.00
CAF Gold Account c/f
15,000.00
CAF Cash Account c/f
41,583.00
Total
192,201.00		 Total
192,201.00
NOTES TO THE ACCOUNTS
1 THE ACCOUNTS HAVE NOT BEEN INDEPENDENTLY VERIFIED BECAUSE THE TOTAL TURNOVER IS BELOW £250000
HOWEVER, THE TRUSTEES CAN CONFIRM THAT THESE ACCOUNTS CORRECTLY STATE THE TRANSACTIONS FOR THE PERIOD
2 CAF GOLD ACCOUNT IS A HIGHER INTEREST BEARING ACCOUNT
DEREK STEW (TRUSTEE)
ALAN WALTERS (CHAIR)

WizeUp Financial Education | Annual Report 2023-2024

Our registered address:

74 Bressey Grove, South Woodford, London, E18 2HX

www.wizeupfinancialeducation.co.uk