## GIVING ESSENTIAL FINANCIAL SKILLS **FOR ADULT LIFE** **2024-2025** 2024 Annual Report-2025 Page 1 WizeUp Financial Education | Annual Report 2024-2025 ## ALAN WALTERS Chair Trustee “It remains our ongoing mission to **give young people the essential financial skills needed for adult life.** ” It is again my privilege to present this our 5th Annual Report on behalf of my fellow Trustees; Elma Morris, Saskia Perriard, Gemma Dunbar and Derek Stew. I am also very pleased to announce that our Board of Trustees is to be extended to include Lee Giles, who until his recent move to Wessex Water, provided invaluable support to WizeUp as our former Head of Programme in the South West. Mike Flack’s first full year as our CEO has seen further growth in WizeUp Financial Education under his direction and building on the strategic work undertaken with our Associate, Mona Vadher. You will see from Mike’s report that there has been a degree of diversification whilst always continuing to underpin and maintain the established core values of being adaptable, inclusive, engaging and impactful to all of the young people we work with, which are our hallmark. As ever, it is the education of our young people surrounding the topic of financial literacy that continues to be confirmed as being of critical importance, not only in the stressful financial conditions still very apparent in today’s world, but as an essential life skill. One hears more and more of the financial challenges facing those starting their adult life, be it continuing in further education or entering into the opportunities and challenges that employment can bring. Whatever the future may hold, it remains our ongoing mission to give young people the essential financial skills needed for adult life. We have also continued to make particular effort to address the needs amongst SEND and PRU students with work led by Head of Programme Laura Flynn. This was shown via the delivery of the WizeUp with Jack Petchey SEND & PRU programme, which now enters its second academic year. As Chair Trustee, I was excited to learn about the Government’s new proposals regarding financial literacy and primary education. Last academic year saw us work closely with Darlington Building Society in delivering our first Primary School Programme ‘WizeUp with Darly’, which coincided with the bi-centenary celebrations of Darlington. Katharine Matthews, who led this programme, has now developed a primary programme that can now be delivered nationally, and we are especially thankful to Bath Building Society and Saffron Building Society in taking this on, alongside Darlington. I would like to finish by thanking all of our wonderful partners for their fantastic support for the 2024-2025 academic year. Without them, we would not have been able to achieve the record breaking results of last academic year. Thank you! Page 2 WizeUp Financial Education | Annual Report 2024-2025 MICHAEL FLACK Chief Executive Officer “We have embraced our core values of being **adaptable, inclusive, engaging and impactful.** ” This year, WizeUp has grown and evolved, building on the strong foundations set out in our first impact report. We have taken last year’s introduction of our Theory of Change and embraced our core values of being adaptable, inclusive, engaging and impactful. The latter has been created via a live dashboard on our website that now provides regular updates about both our activity and the difference it is making. The dashboard is a huge step forward in sharing WizeUp’s progress openly and enabling schools to see how their engagement is shaping young people’s futures. We also understand this has been used by schools to demonstrate engagement and has even been used in Ofsted reporting. Through all our investment in evaluation and reporting, we have been able to listen more to students and show more of the changes in behaviour young people are making in relation to financial literacy – from budgeting and saving to talking more openly about money with their peers and families This year, we have also expanded our reach, now working with 212 schools and over 42,000 students across the country. By providing accessible and inclusive financial education, I am proud that WizeUp continues to ensure that all young people have access to financial education and, most importantly, that we are making a difference. We remain committed to making financial and employability education more accessible to young people through active learning and welcome the Governments most recent announcements via their education strategy. We will still be advocating that the topic of financial literacy is compulsory for those young people in Key Stage 5, however, we will naturally be working collaboratively with our colleagues in the space to ensure the initial plans are executed in the best way possible. Thank you to all the schools and partners who have worked with us this year. Together, we can make such a difference to young people’s knowledge, financial capability and confidence in their futures. Page 3 WizeUp Financial Education | Annual Report 2024-2025 ## ED FLACK Founder & President “We started with 1000 students in 2012 and I firmly believe **we will pass 60,000 within two years.** ” When I started WizeUp back in 2011 one of my goals was to give somebody an opportunity to work with young people on the topic of financial literacy. As I look back on our journey I am thrilled that we now have 20 amazingly talented and enthusiastic people delivering a multitude of programmes to young people in all corners of the country. Of course we mustn’t lose sight of the fact that this wouldn’t be possible without our amazing partners who shoulder the burden of financing these sessions, some of whom have been with us for more than 10 years and others still joining our challenge of enabling young people to make better decisions with their money both during and after school. Mike took over the reins of running the charity back in January 2024 and from that point he has shown remarkable vision and skill in both building new programmes and a team capable of delivering and expanding them. He has been ably assisted by both Sophia and Laura, along with Lee, who has now joined as a Trustee, in administering a huge number of deliveries which they have done both with skill and enthusiasm.The rapid expansion of WizeUp has brought its own challenges for our trustees and they have proved how dedicated they are in supporting Mike and the whole team. My heartfelt thanks go to them all. I look forward to watching the charity continuing its rise and ticking off the milestones of students we work with every year. We started with just 1,000 back in 2012 and I firmly believe we will pass 60,000 within the next two years. Our mainstream secondary programme has been joined by our SEND/PRU programme and as I write we are just about to release ‘WizeUp with Football’ and our book aimed at bringing financial literacy to primary students ‘Wilbur’s Wintry Wisdom’. As the number of students grow, so must our funding and we hope that our existing partnerships will continue to expand and flourish and that new partnerships will also be formed. Next year promises to be the best yet and I am excited in helping it unfold. Together we can make great things happen. Page 4 WizeUp Financial Education | Annual Report 2024-2025 ## BOARD OF **TRUSTEES** The WizeUp Board of Trustees holds the ultimate responsibility for the charity’s strategic direction, corporate governance, and fiscal health, ensuring all operations remain fully compliant with charity law and governing documents. The Board’s primary strategic function is to drive the mission forward, overseeing the development and scalability of our programmes to ensure every young person we work with, is equipped with essential, measurable financial skills for adult life. Through financial oversight and risk management, the Board ensures that WizeUp’s resources are deployed effectively and transparently to achieve maximum educational impact across mainstream, Special Educational Needs (SEN) and Pupil Referral Unit (PRU) throughout England. **----- Start of picture text -----**
Alan Walters Gemma Dunbar
Elma Morris
Chair Trustee Trustee
Trustee
Saskia Perriard-Abdoh Derek Stew Lee Giles
Trustee Trustee Trustee
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Page 5 WizeUp Financial Education | Annual Report 2024-2025 SUMMARY: IMPACT THIS YEAR ## HEADS OF PROGRAMME The Heads of Programme team are responsible for the strategic development, continual monitoring, and quality control of WizeUp’s financial education curriculum within across all delivery settings (Primary, Secondary, SEND, and PRU) within their respective grographical areas. They ensure the sessions within their geographical areas are scheduled, prepped and delivered, thus maintaining positive relationships between partners and schools. Since May 2025, the team has significantly scaled its impact and playing a key part in the charity seeing over 40,000 students last year alone. Critically with the team having a vast array of experience in education and public speaking it has been a catalyst for growth as the charity stregthens its SEND & PRU offering (via Laura Flynn) and our Mainstream Primary programme (via Katharine Matthews) . The Head of Programmes focus remains on ensuring WizeUp’s resources are scalable, effective, and meet the diverse educational needs of young people across England. **----- Start of picture text -----**
Sophia Mousoulides Laura Flynn Mel Sneath
WizeUp with SEND & PRU Yorkshire &
Jack Petchey Foundation The Humber
(Mainstream)
Katharine Matthews Jim Rastall Kate Lee
North East England North West England South West England
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Page 6 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **LEADERSHIP TEAM** ## **Sophia Mousoulides** ## **WizeUp with Sir Jack Petchey (Mainstream)** Sophia is an advocate of social mobility and has over 15 years’ experience working in higher education and the charity sector, with expertise and passion for enabling young people reach their potential. She has a wealth of experience in partnership building, boosting employability, widening participation, project management, and delivering workshops to young people predominantly across London and Essex. ## **Laura Flynn** **SEND & PRU** Laura joins us with a wealth of experience in mentoring where she received the National Mentor of the Year award from Career Ready, a social mobility charity with 5,000 mentors. She is currently Education Coach with Innerscope and Programme Director of the North Star Programme. Her experience working with students with needs relating to challenging behaviour makes her the perfect choice to develop and deliver our SEND & PRU Programme, working closely with other HOP’s to ensure the best possible delivery ## **Mel Sneath** ## **Yorkshire & The Humber** Mel Sneath became the Head of Programme for Yorkshire & The Humber this academic year. Mel is an enthusiastic public speaker who has helped young people across the country find their voice, gain confidence and learn to speak with passion. She loves speaking and brining a smile to peoples faces. Her favourite part in presenting is having fun whilst also making life-changing impact on young peoples lives. Earlier in her career Laura was COO of City University School of Arts and Social Sciences. Page 7 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **LEADERSHIP TEAM** **Kate Lee** **South West England** Kate has worked in education throughout her career, initially as a teacher and Head of Department and subsequently for the leading education charity AQA. With a background in digital and blended learning, she has also worked in senior roles in Edtech and educational publishing, producing engaging teaching and learning resources and digital tools to support students and teachers. As a former English teacher, she is passionate about all forms of literacy as a way of closing the disadvantage gap, including developing students’ vocabulary, reading, writing and financial literacy skills. **Katharine Matthews** **North East England** Katharine Matthews is an ex-English teacher with over 15 years’ experience at Secondary level, now running two successful businesses. Following a long position as Second in Department, tracking progress and data and overseeing intervention, then a Whole School Literacy Coordinator role, she left teaching to start her own business as a Copywriter and Marketing Consultant. Two years later, she set up a local networking organisation, hosting an range of events to support other professionals and boost her local economy. **Jim Rastall** **North West England** Jim is a graduate of Nottingham University, The Bristol Old Vic Theatre School and Animas Centre for Coaching. As a facilitator Jim has worked within the arts, education and business. Whatever the context, Jim uses his upbeat brand of interactive engagement to bring the best out of every participant. He has led seminars and workshops for Three, Tesco, Thames Water, Accenture and Louis Vuitton, among others, and he’s excited to bring this wealth of experience with him to WizeUp. His own financial education started at age 6 when his grandad taught him about compound interest by drawing sums on the back of a napkin. Since then he’s been an avid saver and investor, and is passionate about helping young people understand and tap into their ability to create and reach their financial goals. Page 8 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **LEADERSHIP TEAM** ## **Ed Flack** ## **Founder & President** Ed has been in financial markets all of his working life - having long spells with HSBC, Handelsbanken, ING and most recently, Director of Corporate Treasury and Investment for Deutsche Postbank. Ed has also worked for four years in Singapore as Treasurer for BHF bank and specialises in Foreign Exchange, money markets and derivatives. He has a first class honours degree from the OU in maths and natural sciences. The idea to form WizeUp in came from first hand experience of the trials and tribulations of his own children as they moved through adolescence and into adulthood. He developed WizeUp Consultants, a not for profit company in 2011 and he decided to apply for charitable status in 2020. This was granted and WizeUp Financial Education began work in the same year. Ed was CEO from it’s inception until he stepped down at the end of 2023. ## **Michael Flack** ## **CEO** Having taught and led departments in both the academic and pastoral sides within the independent education sector since 2018 and with a background film and television, Mike is working toward making the topic of financial education a more active and interactive learning experience for students. Having worked independently before teaching, producing marketing videos for different clients across Europe, Mike enjoys finding ways to promote key messages across a visual medium. Michael is passionate about improving financial literacy for young people across the United Kingdom, especially those within the Post 16 category. He believes that financial literacy is a topic that is vitally important for the current and future generations. He is excited about leading WizeUp through the next phase of our development. Page 9 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **ASSOCIATES** ## **Ash Shastry** Ash helps big dreamers become high achievers. Using his background in Mechanical Engineering, Management and Business, he led the learning and development agenda at a people management firm and was quickly nominated as the youngest director in the company. Ash now runs his own business to help companies develop high performing teams by putting people and culture at the heart of all success. Ash believes in short-cutting the journey to “success” by learning from those who have achieved what you want to achieve. This has allowed him to quickly gain a lot of experience, work with some of the world’s biggest companies and opened his eyes to the infinite opportunities this world has to offer. He loves to bring his energy and enthusiasm to train others in developing confidence, communication and leadership skills in hopes that he can one day be the short-cut to someone else’s success. ## **Samina Kiyani** Samina is a TV professional with a 30+ years career in media. She has honed her skills in live TV, news, current affairs, entertainment, documentaries, and live online events. Her natural ability to connect with people has made her a popular host, emcee, and moderator for various events, including awards ceremonies, a BAFTA members’ film screening and panel sessions. Samina runs a media consultancy delivering communication and broadcast skills to professionals, businesses and educational institutions, and supports young people with their future careers. She is a passionate advocate for driving Diversity, Equity and Inclusion across the media industry and believes that we all have the opportunity to influence and lead real change. ## **Luisa Guerreiro** Luisa has over 20 years experience in mentoring, assisting in the training of professionals for jobs in the corporate and medical sector, facilitating workshops, and public speaking at educational institutions. Her experience as a public speaker in schools, highlights Luisa’s ability to engage young minds on career path trajectories and post school options. She has worked as a teaching assistant, drama facilitator and workshop leader, enthusing people to find their voices and develop critical thinking to make informed choices. Luisa has worked for companies including The National Theatre, Netflix, Legendary Entertainment, Disney, Guerrilla Games, Ubisoft, BBC3 Comedy, The Harold Pinter Theatre, and CBBC, to name a few. Her work as a performing arts professional supports her ability to connect to a wide demographic of people in an entertaining, humorous, inclusive and welcoming way; this makes Luisa an approachable and inviting speaker. Page 10 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **ASSOCIATES** ## **Lou Ross** Lou has 20 years experience of delivering workshops on a range of subjects. She’s worked across the country in primary and secondary schools, SEND education and PRUs. She uses her background in acting to help engage her students. She’s passionate about helping young people achieve their potential, particularly those who are care experienced or from working class backgrounds. ## **Isabel Caetano da Rocha** Isi is a purpose-led strategist and transformation leader with over 20 years of experience supporting boards and senior teams. As former COO and Managing Director of a $50bn investment division, she is known for leading major organisational change and driving sustainable growth. Isabel now runs a consultancy she founded to help organisations navigate moments of strategic change. She serves as a Trustee for Next Chapter Women’s Refuge, reflecting her belief in governance as a force for good. ## **Emma Walford** Emma is passionate about supporting young people to feel confident in their learning and in themselves. Her background spans studying Social Sciences, teaching and tutoring Maths, and developing a strong interest in wellbeing through yoga and mindfulness training. She enjoys breaking down tricky ideas into simple, engaging steps that help students feel capable and motivated. Joining WizeUp gives Emma the opportunity to combine her skills in education with her interest in personal growth, encouraging learners to build both knowledge and resilience. A passionate advocate for inclusive leadership, Isabel launched Powerof10, a women’s support network, and has led initiatives to champion diverse voices in leadership. A published children’s author and accomplished musician, she is also an award-winning playwright whose work has been selected for London’s Criterion Theatre New Writing Program. Page 11 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **ASSOCIATES** ## **Emma Gilbert** Emma is a retired Police Chief Inspector from Greater Manchester Police. Throughout her career, she’s been a staunch campaigner for people’s rights and independence, particularly children and young people as well as those who are deaf or disabled. She became a specialist in safeguarding and protecting children and vulnerable adults and nationally developed the strategy for Deaf Access to Policing significantly improving access to justice for deaf individuals. Emma is delighted to be joining the team with her passion to continue her safeguarding plight by helping to improve financial wellbeing through the delivery of our courses. ## **Joanne Symm** Jo has 25 years’ experience working within the Primary Education Sector, as a Class Teacher, MFL specialist and Initial Teacher Trainee mentor. She currently leads on the Leicestershire MFL SCITT course and volunteers as a Civilian Instructor within the Market Harborough Sea Cadet Unit. Jo is passionate about working in partnership with families and giving young people the opportunity to gain important life skills beyond the realms of the standard school curriculum. ## **Mona Vadher** Mona is a social mobility advocate deeply committed to diversity, inclusion, and social impact. She has a track record of driving change with innovative programmes and effective leadership. She is a goal-driven entrepreneur, comfortable with generating and implementing long-term strategies to spur growth and maximise reach. Creative and passionate about building purpose-driven and impact-led programmes designed to bolster the confidence and employability prospects of young people from diverse backgrounds. Mona is an educational and skills policy expert and has experience with working with Boards of Trustees. She has delivered senior-level partnerships across higher education, Government, and financial services. She has created initiatives which have raised aspirations, driven employability prospects and increased confidence for young people, from low, socio-economic backgrounds. Mona believes that your background shouldn’t determine your life outcomes and so, there should be diversity, inclusion, and equity at progression. She has set up highly complex programmes that are purpose-driven and impact-led for many organisations such as the City of London Corporation and the Department for Education. Page 12 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **PERFORMANCE** WizeUp helps students of all abilities to make impactful decisions about their finances. We aim to deliver engaging sessions and adapt to the needs of every school we visit. Number of Young People seen > **42,752** Number of Schools partnered > **212** % of schools above national averge FSM > **46%** ## Did you know? Teachers also reported a wider ripple effect. 91% say WizeUp increases students’ confidence in the future, over half see an increase in students’ aspirations around financial capability and half feel more aware of young people’s financial concerns. Page 13 WizeUp Financial Education | Annual Report 2024-2025 **OUR PERFORMANCE** Student Seen **6,986 11,871 24,157 35,566** 2020/2021 2021/2022 2022/2023 2023/2024 **42,752** 2024/2025 Student Hours Delivered **6,986 11,871 42,566 69,668** 2020/2021 2021/2022 2022/2023 2023/2024 **81,095** 2024/2025 Page 14 WizeUp Financial Education | Annual Report 2024-2025 ## SUMMARY Impact This Year “3 in 5 students do not recall any financial education before and **financial literacy is not compulsory for Key Stage 5.** ” WizeUp delivers to a wide range of schools. 36% of the schools WizeUp partners with are located in the most deprived areas of the country, with an IDACI ranking in the bottom 20%, and nearly half (46% of schools) have an above-average proportion of pupils eligible for Free School Meals. WizeUp seems to continue to address a gap in provision despite financial literacy being on the secondary school curriculum and compulsory for KS3 and KS4 for over 10 years. In fact, 3 in 5 (57% of) students do not recall any financial education before and financial literacy is not compulsory for KS5, despite students being at the final stage before transition into independence. Furthermore, currently, only 1 in 10 teachers said they feel confident teaching financial literacy. The sessions are increasing young people’s skills and confidence in financial literacy in an engaging way. 60% of students report an increase in their financial confidence after attending WizeUp, and 67% continue to feel confident in managing money three months later. While this is a decrease from last year’s 92%, the change partly reflects more students reporting that they already felt confident beforehand, alongside more young people speaking openly about their worries around money. Over half report feeling less anxious about their financial future if they chose to attend university. And we can already see changes in intent on financial behaviour. 68% pledged to change their financial behaviour, with the majority of pledges focused on managing money more effectively. And that intention is beginning to show changes in behaviour, with 3 months later, 87% of students say that they understand more about managing their money. In schools, 2 in 3 teachers also say they feel more confident about teaching financial literacy themselves after the WizeUp sessions, and 43% of schools want to adapt their delivery of financial literacy education as a result. 97% of teachers would like WizeUp to return next year, and all would recommend it to other schools and colleagues. Page 15 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **FINANCES** WizeUp helps students of all abilities to make impactful decisions about their finances. We aim to deliver engaging sessions and adapt to the needs of every school we visit. Income for the 2024/25 Academic Year > **£204,333** Expenditure for the 2024/25 Academic Year > **£198,554** Amount spent on Direct Deliveries > **£80,908** Page 16 WizeUp Financial Education | Annual Report 2024-2025 ## BY NUMBERS: **OUR REGIONAL PROGRAMMES** STUDENTS SEEN STUDENTS SEEN STUDENTS SEEN STUDENTS SEEN STUDENTS SEEN **21,193 2,139 3,230 2,680 1,480** STUDENTS HOURS STUDENTS HOURS STUDENTS HOURS STUDENTS HOURS STUDENTS HOURS **51,863 3,004 5,690 5,355 2,867** STUDENTS SEEN STUDENTS SEEN STUDENTS SEEN STUDENTS SEEN **845 1,664 2,628 1,401** STUDENTS HOURS STUDENTS HOURS STUDENTS HOURS STUDENTS HOURS **2,384 2,249 3,688 1,637** Page 17 WizeUp Financial Education | Annual Report 2024-2025 ## **PROGRAMME DELIVERY** BY SCHOOLS Below is the breakdown of where we delivered our programmes. For the 2024/2025 academic year, WizeUp Financial Education were delighted to run three separate programmes. The first was our mainstream secondary programme, which continued to focus mainly on those in Years 12 and 13, along with others based from Years 7-11. The WizeUp with Jack Petchey SEND & PRU Programme as also launched allowing for us to work with smaller groups of young people who were based in alternative provisions. This was a landmark moment for WizeUp and we were incredibly thankful to The Jack Petchey Foundation for their belief in our project. For the 2025/2026 academic year, this programme is now being rolled out nationally, and we have already delivered this to **----- Start of picture text -----**
MAINSTREAM (SECONDARY) MAINSTREAM (PRIMARY) SEND & PRU
91% 4% 5%
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In the 2024/25 academic year, WizeUp engaged with 212 schools across England. 85% of WizeUp’s delivery is in mainstream secondary schools, 6% in colleges and 5% in SEN and PRU settings. Students range from Year 9 to Year 13, with the majority engaging with WizeUp in Year 12 (69%). This year, WizeUp also began working in primary schools, looking to address Money and Pensions Service (MaPS) research, which indicates that children’s core financial attitudes and habits are established by the age of seven. In partnership with Darlington Building Society, WizeUp has started delivering sessions across a number of primary schools, adapting the programme to suit different age ranges. Page 18 WizeUp Financial Education | Annual Report 2024-2025 ## GEOGRAPHY Where We Deliver “There is a real need to focus efforts where they are most needed in terms of socio-economic backgrounds” WizeUp is committed to ensuring financial literacy is accessible to all young people, regardless of their background or abilities. 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. There is 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%) 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 FSM . 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 levels . 36% of the schools WizeUp partners with are located in the most deprived areas of the country, with an IDACI ranking in the bottom 20%. This means a disproportionate number of children in these communities face the challenges of poverty, which can severely limit educational opportunities. However, WizeUp is committed to providing equal access to educational support, and therefore, its reach also includes the fact that 11% of WizeUp partner schools are situated in the top 20% of most affluent areas. The national average for FSM eligibility is 25.7% of students (up from 24.6% in 2024), representing 2.2 million pupils. 46% of the schools WizeUp works with have FSM eligibility above the national average. This wide range, from schools with just 3% to those with 86% of students eligible for FSM, underscores the socioeconomic challenges faced by WizeUp’s students. More details can be seen on the map above and on the WizeUp impact dashboard via our website - https://wizeupfinancialeducation.co.uk Page 19 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **PARTNERS - THANK YOU!** WizeUp Financial Education would like to thank all of our partners for the 2024/2025 academic year, they are the key part in ensuring all of our young people get the essential financial skills needed for adult life. **KEY PARTNER** - SPONSOR 100+ SCHOOLS **CORE FUNDERS** - SPONSORED OPERATIONAL COSTS **REGIONAL PARTNERS** - SPONSOR 10+ SCHOOLS **LOCAL PARTNERS** - SPONSOR 1-9 SCHOOLS **----- Start of picture text -----**
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WizeUp Financial Education | Annual Report 2024-2025 ## OUR **STRATEGY** WizeUp’s vision is to help students of all abilities to make impactful decisions about their finances. We aim to deliver engaging sessions and adapt to the needs of every school we visit. Page 21 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **APPROACH TO IMPACT ASSESSMENT** WizeUp’s mission is “to give young people the essential financial skills they need for adult life.” This commitment is reflected not only in programme delivery, but also in how WizeUp evaluates and improves its work. The charity’s impact evaluation approach, developed by Bean Research, reflects and enhances WizeUp’s four core values: Inclusiveness: WizeUp ensures financial education is accessible to all young people, using FSM and IDACI data to reach those who need support most while recognising diversity across schools an ~~d backgrounds.~~ Adaptability: The programme flexes to suit different settings, from mainstream to SEND and PRU schools, with tools and feedback designed to reflect varied communication needs and learning styles. Engagement: WizeUp makes evaluation participatory and transparent, giving schools access to live data through its Power BI dashboard and embedding feedback from students, teachers and partners. Impact: Grounded in its Theory of Change, WizeUp measures both outcomes and lived experiences, helping young people build confidence, change behaviours and make lasting improvements to their financial futures. ## The Impact Framework WizeUp’s impact framework was designed to assess the key student and teacher outcomes which have been shown through academic research to change financial behaviour in the long term. Through this approach to evaluation, we can be clear that WizeUp’s influence in increasing competence, confidence and immediate behaviour change in the short term will significantly contribute to long-term positive financial behaviour change, providing an important signal of likely long-term impact, strengthening intention and accountability. In this way, WizeUp’s evaluation remains proportionate to its delivery, yet embedded in long-term financial behaviour change theory. This year’s impact report is based on an independent evaluation conducted by Bean Research, with 6,154 students and 46 teachers providing detailed feedback on their experience. Page 22 WizeUp Financial Education | Annual Report 2024-2025 ## **THE NEED** Financial literacy has been on the secondary school curriculum in England and Wales since 2014, with the Government planning to introduce this further into the primary sector from September 2028. Yet the reality is that provision is inconsistent, and young people are still missing out. 57% of WizeUp’s students do not recall ever receiving any financial education at school. By the time they leave, their attitudes and habits around money are already established, but most have had little meaningful support. Teachers also recognise th ~~e gap in the educational system. Many do not feel equipped to deliver financial education, particularly as topics like stu~~ dent finance and money management shift so quickly. Schools increasingly see the value of bringing in independent specialists, giving young people the skills and confidence they need before stepping out on their own. Research from Money and Pensions Service (MaPS), indicates that children’s core financial attitudes and habits are often established by the age of seven, significantly influencing their future financial behaviour . 68% of UK adults believe financial education during their school years would have helped them manage money better. 79% of young adults had never created a budget, 76% had never paid a bill, and 77% had not saved for unexpected expenses 81% of primary school teachers cited a lack of time as the biggest barrier to giving their students a robust foundation in financial literacy. Among teachers currently delivering financial education, less than half reported having access to training or time to undertake CPD in financial education. 61% of teachers are unaware that financial education is part of the secondary curriculum, and over 56% say they are not delivering the subject at all in their schools. ## OUR **YOUTH ADVISORY PANEL** The WizeUp Youth Advisory Panel (YAP) serves as a vital strategic component, ensuring the charity’s resources and curriculum remain relevant and impactful to the young people we serve. Composed of thirteen former participants aged 16–25 from diverse educational backgrounds, members are formally remunerated for their time and expertise in recognition of the critical value they provide. The YAP offers continuous, unfiltered feedback on programme content and delivery, and is currently providing crucial insight into the design of the new WU Awards programme, which will establish a framework for tracking long-term behavioural change in participants’ financial habits. Furthermore, we have invested in the Panel’s professional development by instituting dedicated sessions with strategic partners, offering specialised advice and guidance on preparing for adult life. This structure ensures WizeUp consistently meets the evolving needs, trends, and financial challenges faced by young adults across England. Page 23 WizeUp Financial Education | Annual Report 2024-2025 ## QUALATITATIVE **FEEDBACK** “One lesson is the idea of setting clear financial goals and working towards them. I’ve tried doing this by budgeting more effectively and seeing what I need to avoid spending useless. The concept of paying yourself first has been impactful, so I make sure to set aside savings before covering other stuff” Year 12 Student, Barnhill Community High School “I wasn’t aware of how exactly pensions worked and how much you needed to save in order to live a comfortable life off your pension, but after the session, my understanding was broadened” Year 12 Student, St Mark’s Catholic School “As university approaches and I have a job for myself, learning to budget was extremely important as I have become more independent due to my increase in funds. From WizeUp, I acquired a budget planner for the coming years, which I can use.” Year 12 Student, English Martyrs Sixth Form College “It has made me re-evaluate who we use in the future to deliver financial literacy” Head of Enrichment, Peter Symonds College Page 24 WizeUp Financial Education | Annual Report 2024-2025 ## FINANCIAL **KNOWLEDGE & SKILLS** In the 2024/25 academic year, WizeUp engaged 41,752 young people in financial education, seeking to help build the skills and confidence needed to manage money effectively. The WizeUp programme in schools delivers six interactive sessions on real-life financial topics: Flat Sharing, Saving & Investing, Credit & Credit Ratings, Student Finance, Cryptocurrency, Taxation & Pensions, and Budgeting & Earning Extra Money. Each session is delivered in schools and concludes with a quiz, measuring knowledge retention and feedback from students. One of WizeUp’s strengths is the ability to break down complex financial concepts into easily understandable terms and provide practical advice for students. 80% of students report WizeUp has helped change their understanding of personal financial jargon. On average, students achieved a 73% quiz score across all sessions, with the highest retention of knowledge in the Taxation & Pensions and Cryptocurrency sessions, where students achieved average scores of 83%. While some topics, such as the Credit Cards & Credit Ratings session (54% recalling knowledge), students still reported an increase in confidence, with 71% feeling more assured in their money management after the lesson. When asked which topics they found most useful to observe, 20% of teachers learnt the most from Budgeting, 18% from Student Finance, and 13% from Credit Cards and Credit Scores. Teachers also recognised wider benefits. One in four teachers reported that WizeUp sessions helped raise community or social issues for the benefit of students, and 65% said the sessions increased students’ opportunity to take ownership of decision-making. When asked two to three months later as part of a follow-up survey, students reported learning the most about 19% budgeting 18% saving, and 15% student finance. And 87% of students say that they understand more about managing their money. Page 25 WizeUp Financial Education | Annual Report 2024-2025 ## OUR **SEND & PRU PROGRAMME** WizeUp also has a dedicated programme for SEND and PRU students. The four-session course combines practical money management skills with wider life skills, from building communication and teamwork to budgeting, entrepreneurial thinking, and understanding credit, debt, scams and gambling. The majority of the SEND students highlight saving money (72%), followed by using debit and credit cards (66%) and recognising scams and understanding gambling risks (63%). Teachers and advisers’ feedback praised the inclusive and respectful approach, noting that the sessions were thoughtfully tailored to the strengths and needs of SEND students. “Pupils have learnt they do not need to spend all their money and that it is important to save. The teacher was amazing, WizeUp pitched the day at the right level for our pupils. They were engaged the whole time.” Teacher at Three Ways School, SEND School “I really enjoyed the session because it helped me to know how to manage my budget. I would like to do these sessions again.” ” **----- Start of picture text -----**
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Page 26 WizeUp Financial Education | Annual Report 2024-2025 ## CHANGING **ATTITUDES TO MONEY** Around 6.5 million UK adults were identified as having low financial capability, meaning they lack confidence in managing money and show limited financial knowledge (FCA, 2024) . Research consistently identifies that confidence plays an important role in how a young person manages and thinks about money, as well as in their emotional connection to it. WizeUp aims to change students’ and teachers’ attitudes towards financial literacy to feel more capable when it comes to discussing and managing money. Confidence levels in financial literacy grew significantly, with six in ten students reporting an increase in how confident they feel about managing money after taking part in a session. By topic, students feel most assured after the Taxation and Pensions session (77%), followed by Student Finance (75%) and Cryptocurrency (73%). Over half reported feeling less anxious about their financial future if they chose to attend university. Overall, 84% of students reported leaving a WizeUp session confident in their ability to manage money in the future. Importantly, this confidence was sustained when asked three months later, 67% of students reported feeling confident in how to manage money. Students also seem to enjoy the experience as well as benefit from it. 3 in 4 (76%) say they enjoy the sessions, with the highest satisfaction linked to Taxation & Pensions, Flat Sharing, and Saving & Investing. WizeUp also delivers in SEND schools, where building confidence is especially important. Financial wellbeing varies significantly across different types of disability, with people with cognitive disabilities often experiencing levels well below the UK average . After taking part in WizeUp sessions, over half of the students (52%) said they feel much more confident than before, and a further third (31%) reported feeling very confident. Page 27 WizeUp Financial Education | Annual Report 2024-2025 ## RESPONSE **FROM TEACHERS** Teachers report strong improvements in their students, with 91% saying WizeUp sessions increased students’ confidence in the future, and half say they raised students’ aspirations. Teachers also report changing their mindset about financial literacy with the support of WizeUp. When asked how confident teachers feel about teaching financial literacy, only 11% said they were extremely confident. This echoes the research, with less than half of teachers reporting having access to training or time to undertake CPD in financial education . After working with WizeUp and observing their delivery and engagement with the students, 64% of teachers said they now feel more confident about teaching financial literacy after the sessions. Teachers reported that they value the quality and relevance of delivery too, with 78% very satisfied with the quality of content and 73% with its relevance. The overall impact is clear 58% of teachers reported being more aware of young people’s financial concerns, and 95% of teachers said WizeUp creates a positive impact on their students’ development, equipping them with the confidence to make better financial choices now and in the future. “Some learners who experience extreme anxiety were initially hesitant to take part in the financial education sessions. With a supportive and calm environment, they gradually gained confidence and fully engaged with the activities. Staff observed that these learners began participating more openly in discussions and asking thoughtful questions about everyday money situations. Despite their initial worries, student feedback was overwhelmingly positive. One learner commented that the sessions helped them “think about money in different ways I never thought of before,” while another said it made them feel “more prepared to deal with real-life things like shopping and saving.” The combination of practical examples, gentle pacing, and inclusive support strategies helped all learners, including those with high anxiety, feel safe and valued during the sessions” Teacher at Newham FE College “WizeUp helped me become more confident with managing my money. I also gained a clearer understanding of student finance and the importance of long-term planning, like pensions” Year 12 Student, Barnhill Community High School “WizeUp was very helpful in terms of helping me understand about saving money, how loans and credit cards work. I am confident that I will try to start saving more ” SEND Student Page 28 WizeUp Financial Education | Annual Report 2024-2025 ## CHANGING **FINANCIAL BEHAVIOURS** In 2024, WizeUp introduced pledges to capture how students planned to use their learning. Of those completing surveys, 68% (4,095) made a pledge to change their financial behaviour. Teachers also report that sessions encouraged students to apply learning in practice (78%). Most pledges (70%) focused on managing money, particularly budgeting and saving. One in four students pledged to start or improve budgeting, often linking it to everyday choices such as “stop buying bubble tea,” “don’t buy as many steak bakes from Greggs,” or “cut back on Costa.” Saving was also important, with some starting “emergency pots” or planning for university. Follow-up surveys show 84% were budgeting in some form, in stark contrast to national figures, where 79% of young adults have never created a budget. Other pledges highlight critical consumer habits (7%), caution around credit and Buy Now Pay Later (13%), and longer-term planning, such as pensions, ISAs, and student finance (10%). Commitments like “I will start my work pension as early as I can” reflect unusually forward-looking attitudes for this age group. Teachers report observing students budgeting daily, opening savings accounts, or showing caution with credit. Many also report increased discussion of money, with 69% saying WizeUp is prompting conversations among peers and families. 41% of schools say the programme improved their financial literacy provision, and 97% would schedule WizeUp again. Teachers report valuing the programme’s depth, especially on budgeting and investing. “Some opened bank accounts. There were some interested students who looked into cryptocurrency purchases as a consortium. Our Sixth Formers were engaged and genuinely interested in the topics, with students questioning: ‘Why don’t we do this in class?’” “I will start planning my pension early. Also, I will be aware of what tax I should be paying, and if I am paying too much or too little tax, then I will take steps to rectify the issue.” ” Student, Year 10 at Kennet School “I am willing to change my spending habits in preparation for university due to high fees and cost of living, especially in my financial situation. I have decided to create a university fund from my earnings so that I have enough to provide for myself in the case of emergency costs.” ” Student, Year 12 at Sandon School Teacher at Heron Hall Academy Page 29 WizeUp Financial Education | Annual Report 2024-2025 ## THOUGHTS ON **UPDATES TO THE CURRICULUM** On Wednesday 5th November, the UK Government announced that financial education will become compulsory for all primary school pupils in England. This was released via the Department of Education in response to the Curriculum and Assessement Reviews Final Report and by the HM Treasury via The Financial Inclusion Strategy. Everyone at WizeUp Financial Education welcomes the Government’s announcement to make financial education compulsory for all primary school pupils in England from September 2028. We understand how important this is for the communities we serve, especially given our first-hand experience with primary school programmes, notably the one funded by Darlington Building Society. This is a pivotal twelve to fifteen months for the Financial Education sector, and it’s essential we get it right. The Government has set out its intentions; now it is important for organisations with experience in this space to come together and collaborate. We must support our schools, teachers, and, most importantly, young people in executing this well. Our leadership, informed by extensive experience in the secondary education sector (including Post 16 Co-ordination and Sixth Form management), understands that we cannot afford to come together in 2030 and look back with regret and a feeling of disdain. Let’s seize this opportunity to excel the Financial Knowledge of our young people so that we can match other countries around the world. Let’s not forget, Financial Education is still not compulsory for those young people within Key Stage 5 (ages 16-18). The purpose of WizeUp being formed was to help this age bracket, and they remain the predominant group we have worked with since 2011. Financial Literacy should be taught throughout a young person’s education, with essential touch points taking place from age seven right up until they leave formal education aged twenty-one or even higher. Personally, we believe there is no age group that needs this more than those aged 16-18, as they leave school and enter a world that is constantly changing year upon year. WizeUp Financial Education is prepared to work with our colleagues in the Fin Ed space, both at home and abroad, to share best practice and with the UK Government to ensure the successful execution of these critical intentions Michael Flack, CEO WizeUp Financial Education Page 30 Wizeup Financial Education | Annual Report 2024-2025 THE Newbury Building Society Penrith Schroder MERCERS, building Society COMPANY CHARITY TRUST Saffron ernon Sbf. Building Society Building Society Skipton Business Finance Bath Building Society THANK YOU .,,,,,, ,,,, BUILDING SOCIETY FOR YOUR SUPPORT ￿￿￿SKy WEALTH CHARTERED HNANCIALIUNNERS Foundation &G MANSFIELD BUILDING SOCIETY Darlington Buildin9 Society esbs eldon as individual as you Page 31 WizeUp Financial Education | Annual Report 2024-2025 ## Our registered address: 74 Bressey Grove, South Woodford, London, E18 2HX www.wizeupfinancialeducation.co.uk Page 32