RCT Evaluation of The Money Charity’s Workshops for Schools

Project code: MCWS

What are The Money Charity Workshops for Schools?

The Money Charity’s workshops in schools cover aspects of money and finance and aim to increase students’ confidence, knowledge and skills relating to money matters. Workshops are delivered in classroom sized groups, by highly trained presenters, and include a range of engaging activities and discussions for students. The workshops are mapped to the English, Welsh and Northern Ireland Curriculums, which aim for pupils to be equipped with financial skills to manage their money day to day and plan ahead for their future financial needs.

What are the evaluation aims?

The Key Stage 4 and post-16 workshops are being evaluated through a randomised controlled trial (RCT) to explore the impact of the workshops on students’ confidence, attitudes and knowledge relating to money. The evaluation will also investigate how the workshops are delivered, and teachers’ views on the workshops.

Who is conducting the evaluation?

The Money Advice Service (MAS) is funding the delivery and evaluation of the workshops as part of its What Works Fund. The Money Charity is delivering the workshops to KS4 and post-16 students as part of the trial. The National Foundation for Educational Research (NFER) is undertaking the RCT evaluation.

What will the research involve for schools?

Schools will be randomly allocated to either the intervention group or the control group. Intervention group schools will receive workshops in autumn 2017 (Oct-Dec). Control group schools will receive workshops in spring 2018 after data collection is complete (late Jan-April).

All schools will nominate a key staff contact for the project. Schools will select suitable dates for the workshops for both terms, will be allocated a Workshop Consultant, and will have workshop dates confirmed after random allocation. Students in all trial schools will complete baseline and follow-up online surveys. In intervention schools, a key teacher will complete a staff survey, and some schools will take part in evaluation observations and case studies.

Which schools and students will be involved?

The trial will involve around 100 schools and post-16 institutions. The trial is for Key Stage 4 and post-16 students (i.e. Years 10 or 11 at KS4; and Year 12 or 13 at post-16). Any of these year groups can take part in your school, as long as those students have not taken part in a Money Charity Workshop before. Your school or institution can be in the maintained, independent or FE sector. The Money Charity works in geographical areas where their Consultants are based. 

When will I need to get involved?

Date Activity
June-early Sept 2017
All schools
Sign-up to the trial with NFER at moneyworkshops@nfer.ac.uk and identify which year group(s) will take part and select Workshops. Liaise with The Money Charity about suitable dates, and confirm class(es)/year group(s) to take part.
Early - end Sept 2017
For schools signed up so far
Student baseline survey - Relevant class(es)/year group(s) complete NFER online survey. Schools randomly allocated to autumn 2017 or spring 2018 workshops.
Late Sept – 16th Oct 2017
More schools sign up
More schools sign up: Student baseline survey - Relevant class(es)/year group(s) complete NFER online survey. Schools randomly allocated to autumn 2017 or spring 2018 workshops.
Oct - Dec 2017
Intervention schools
Workshops in intervention schools. Some workshop observations.
Jan 2018
All schools
Intervention schools
Student follow-up survey for all baseline students.
Teacher survey
Feb-Mar 2018
Intervention schools
Control schools
Case studies in intervention schools.
Workshops in control schools (late Jan-April)

How will schools benefit from taking part?

Schools allocated to both groups will have the opportunity to receive free Money Charity Workshops. The results from The Money Charity Workshops RCT will help teachers to make evidence-based decisions to support learners’ financial capability in their schools. The results will form part of the wider What Works information for MAS.

Do schools have to take part?

The Money Charity Workshops for KS4 and post-16 are available only as part of the trial during Autumn and Spring 2017/18. Schools only have to take part if they wish to do so. Students can opt out of completing trial data at any time. However, all data is important to the trial, and if you do sign-up, the NFER and Money Charity teams really appreciate your support for the evaluation.

How will NFER use and protect the data collected?

All data gathered during the trial will be held in accordance with the Data Protection Act, and will be treated in the strictest confidence by the NFER and The Money Charity. Your school’s key contact details will be shared securely between NFER and The Money Charity solely to enable workshops to be booked and evaluation activity to take place. The student survey will ask students to complete their full name, month/year of birth, and if over 16 their email address, for the sole purpose of matching before and after responses. No school or young person will be named in any report arising from this work.

How will the findings be used?

The findings from the project will be freely available on NFER’s website. They will be used to inform the education and financial capability sectors about money workshops in schools.

Who can I contact for more information?

Pippa Lord, Senior Trials Manager at NFER, is very happy to answer any questions you might have. Please contact her on 01904 567633 or p.lord@nfer.ac.uk