World Financial Planning Day and International Investment Week: T Level Accounting Students Learn the Importance of Money Management

This year, our Accounting department joined the global celebration of World Financial Planning Day (8th October) and International Investment Week (6-12 October), engaging students in an exciting and educational experience focused on the importance of financial planning and smart investing.

On World Financial Planning Day, we were fortunate to welcome a special guest speaker who spoke about Investment20/20, a programme that encourages young people to explore careers in financial services and understand the investment world. The speaker shared valuable insights about how investments work and the impact they can have on long-term financial security, inspiring students to think seriously about their financial futures.

To complement the talk, students later watched an insightful video on Financial Planning. The video explained key concepts such as budgeting, saving, investing, and setting financial goals. It helped students understand how planning their finances early can lead to a secure and successful future.

Following the video and presentation, students participated in several activities designed to make them think about money management in real life. One popular question asked to students was: “What would you do if you won the lottery for £100,000?” The answers were as diverse as the students themselves. Some said they would buy a new car, while others planned to save nearly half of the money (around 45%). Several students dreamed of going on a holiday or indulging in a shopping spree, with a few mentioning buying the latest iPhone 17. Other thoughtful responses included using the money for university tuition fees or donating to family and donating to charity. This activity showed how different priorities and goals influence financial decisions.

Another important question posed to the students was: “Why does the average person struggle with money?” Students offered thoughtful responses, citing factors such as lifestyle choices, debt, and reckless spending. Impressively, many also drew on insights from their Business Environment module, referencing broader micro- and macroeconomic influences such as inflation, unemployment, and the rising cost of living, as key contributors to financial difficulty. Their responses demonstrated a growing understanding of how wider economic forces impact personal finances.

Lastly, students were asked: “Why would someone need a Financial Planner?” Many realised that financial planners could provide expert advice on budgeting, investing, and long-term goal setting. A financial planner helps create a personalised plan to manage money wisely and avoid common mistakes.

Overall, the week was a fantastic opportunity for students to learn essential life skills. Understanding financial planning and investment is key to building a stable future. Our school looks forward to continuing to encourage smart money habits in students every year!