Personal Finance Education Group
Encyclopedia
The Personal Finance Education Group (PFEG) is a UK educational charity focused on equipping young people with confidence, skills and knowledge in financial matters, particularly personal finance
. It was founded in 2000 and receives support from both government and business. It is now a leading partner in delivering “Learning Money Matters”, the schools strand of the national strategy on financial capability launched by the Financial Services Authority
in 2004.
As an independent charity, pfeg provides a Quality Mark to badge recommended teaching resources that are published by banks and other financial companies. It describes the pfeg website as “the one stop shop for teaching personal finance”.
The chairman of pfeg is Ron Sandler
, a former banker and chief executive of insurance market Lloyd's of London
, who led an independent review of retail savings in the UK.
Since pfeg was founded, personal finance education has been accepted by the UK Government as a priority for inclusion in a revised national curriculum.
Personal finance
Personal finance is the application of the principles of finance to the monetary decisions of an individual or family unit. It addresses the ways in which individuals or families obtain, budget, save, and spend monetary resources over time, taking into account various financial risks and future...
. It was founded in 2000 and receives support from both government and business. It is now a leading partner in delivering “Learning Money Matters”, the schools strand of the national strategy on financial capability launched by the Financial Services Authority
Financial Services Authority
The Financial Services Authority is a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom. Its board is appointed by the Treasury and the organisation is structured as a company limited by guarantee and owned by the UK government. Its main...
in 2004.
As an independent charity, pfeg provides a Quality Mark to badge recommended teaching resources that are published by banks and other financial companies. It describes the pfeg website as “the one stop shop for teaching personal finance”.
The chairman of pfeg is Ron Sandler
Ron Sandler
-Early life:Sandler was born in Bulawayo, Southern Rhodesia in 1952 and has an undergraduate degree in engineering from Queens' College, Cambridge and an MBA from Stanford University.-Career in the financial sector:...
, a former banker and chief executive of insurance market Lloyd's of London
Lloyd's of London
Lloyd's, also known as Lloyd's of London, is a British insurance and reinsurance market. It serves as a partially mutualised marketplace where multiple financial backers, underwriters, or members, whether individuals or corporations, come together to pool and spread risk...
, who led an independent review of retail savings in the UK.
Since pfeg was founded, personal finance education has been accepted by the UK Government as a priority for inclusion in a revised national curriculum.
- ‘We […] recognise the importance of personal finance education in enabling young people to develop the financial capability they need to make informed judgements and to take effective decisions regarding the use and management of money in adult and working life.’ - DfES White Paper, 14-19 Education and Skills, February 2005.
External links
- pfeg website
- FSA – National Strategy for Financial Capability
- BBC raw money BBC raw - skills for everyday life