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ERIC Number: ED533800
Record Type: Non-Journal
Publication Date: 2007-Aug
Pages: 13
Abstractor: ERIC
Reference Count: 1
ISBN: ISBN-1-8599-0456-4
Evaluation of the Basic Skills Agency's Financial Literacy Project. Executive Summary
Rhodes, Valerie; Coben, Diana
Basic Skills Agency
The Financial Services Authority (FSA) is leading a national strategy to improve the United Kingdom's financial capability (FSA, 2006). The strategy recognises that there is a need for Financial Literacy education across all areas of society, from children in school to mature adults in all walks of life. In order to meet this need and to be effective, courses in Financial Literacy need to be flexible, overarching and comprehensive in the range of topics on offer, and relevant to the learner's needs, however varied these may be. Against this background, the Basic Skills Agency was given responsibility for overseeing the implementation of the Financial Literacy Project on behalf of the Department for Education and Skills. The project aimed to develop literacy and numeracy within a Financial Literacy context, as part of the national Skills for Life strategy for improving adult literacy and numeracy skills in England. Overall, the project's brief was to: (1) analyse gaps in provision and resources; (2) develop materials and guidance, resulting in replicable "models" of delivery; and (3) support and build upon appropriate projects being taken forward within the FSA's National Strategy for Financial Capability. The Basic Skills Agency's Financial Literacy research and development projects that resulted ran from October 2005 to December 2006. They were based in six different settings: offenders' institutions, including those for young offenders; schools; FE colleges focusing on vocational approaches; the workplace, including trade union settings; Sure Start and Children's Centres; and community and voluntary settings or extended schools. The development projects were diverse not only in terms of settings but also in terms of their organisation and geographical location within England. King's College London was commissioned to evaluate the Basic Skills Agency's Financial Literacy Project. The evaluation addressed three key questions: (1) How does Financial Literacy engage learners in basic skills?; (2) How does engagement in Financial Literacy help raise awareness of basic skills levels?; and (3) What is the potential for embedding basic skills in Financial Literacy provision? The findings of the report are based on a survey of 50 practitioners who attended the BSA Financial Literacy and Money Talk workshops across England, a random sample of Skills for Life practitioners in literacy, numeracy and English for Speakers of Other Languages (ESOL), in-depth interviews with six basic skills practitioners and interviews with members of staff and learners from the six development projects. (Contains 2 footnotes.)
Basic Skills Agency. Available from: National Institute of Adult Continuing Education. 21 De Montford Street, Leicester, LE1 7GE, UK. Tel: +44-116-204-4200; Fax: +44-116-285-4514; e-mail:; Web site:
Publication Type: Reports - Research
Education Level: Adult Basic Education; Adult Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: Basic Skills Agency (England)
Identifiers - Location: United Kingdom; United Kingdom (England)