Eleven to 14 year olds have been taking part in expert-led Money Twist workshops from MyBnk, teaching them how to budget, bank, save and understand public finance.
After raising £163.50 from a non-uniform day they decided they wanted to learn more about managing their money and staying out of debt. The donation will go towards future sessions covering pensions, investments and consumer choice.
Teacher Lian Thomas said: “Our students are using this vital knowledge and applying it to their daily lives and Maths lessons.
“They often ask when will we learn about money again – and this donation was their way of saying thank you.”
MyBnk chief executive Guy Rigden said: “It’s inspiring to see young people so passionate about their future. There can be no greater lessons than learning to live within your means, and make informed choices and enterprising decisions. UK personal debt is £1.5tr and schools need support to teach these vital life skills”.
Old Mutual Wealth chief Paul Feeney said: “Gaining the skills and confidence to manage finances early in life is critically important.
“We are delighted to support MyBnk in bringing their services to a local community where we are a major employer. Learning how to use credit effectively, tackle debt or make wise spending decisions will help the students to live more prosperous lives.”
Last month the Financial Conduct Authority warned a growing number of young people were having to borrow to cover basic living costs.
Just seven per cent of seven to 17-year-olds have spoken to their teachers about money and only a third of parents have done likewise, according to the independent Money Advice Service.