Planning for the Future

Planning for the Future

Financial knowledge, understanding and skills are essential if consumers nowadays are to feel confident when making informed decisions about planning for their future and money matters in general.

It is the job of the Financial Services Authority (FSA) to provide information that helps the public to understand the financial system, make informed choices and manage their finances better. It is also working to ensure that financial literacy is part of the education system, preparing students for adult life.

Financial services is a very wide ranging industry which delivers products through a number of channels including new technologies. Learning simple key skills can help students to become more comfortable with making sense of all the various materials and information available about finance. In developing this ability, skills in communication, information technology and numeracy are essential.

This theme raises three important questions:

• How does the investment sector operate and what are the risks and returns?
• How can I fund my education?
• Should I stay (at home) or should I go?

The tasks and activities in this section have been designed primarily to help develop these key skills by raising awareness about financial decision making, giving an insight into the options available and removing obstructions to what can be a complicated industry.

A recent survey highlighted a major reason why people don’t save as much as they should: "I wish I had started saving earlier or had been taught it more at school." This section aims to address this, by giving young people today the ability to make informed choices about their finance and their futures.

www.prudential.co.uk.