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Independent education charity, the National Skills Academy Financial Services (NSAFS), is promoting financial literacy and money management skills during ‘Money Week’ at further education colleges (FE) across England.

The College will be holding a series of fun, targeted events from [8 -12] March, helping highlight the importance of assisting young people in becoming more ‘money-minded’.
Money Week forms part of ‘Money for LiFE’, the further education project of the Financial Services Authority’s (FSA) National Strategy for Financial Capability. NSAFS manages and delivers the programme across England, aiming to enhance the financial capability of over 30,000 learners across 75 FE colleges during this academic year.

£10 Profit Making Challenge

As part of the week The College’s Faculty of Service Industries has given 41 tutor groups (over 600 students) £10 per group on 1 March 2010 with the objective of making a ‘return on the investment’.

On 19 March 2010 each group should return the £10 plus ‘profit’. The ‘profits’ will be donated to the charities; Wessex Cancer Trust, Sport Relief and Breast Cancer.
The teams will then make a presentation to The College Executive on their activities and the three teams which raise the most funds will be given a prize.

In their tutor groups, students will look at profitability in terms of:
a) Buying goods
b) Manufacturing goods
c) Offering a service
to determine the margins achieved through different economic activity.

Sylvia Perrins, CEO, NSAFS said: “Money Week is a great opportunity to raise awareness of and help develop the financial capability of young people in the UK. Our education establishments, like [insert college name], play a fundamental role in shaping the future and the work being done to support the development of a more ‘money-minded’ nation is commendable.”

The National Skills Academy for Financial Services offers national centres of excellence in education, skills training and development, working in partnership with employers to develop a workforce with the knowledge and skills they need to help service their customers’ financial needs.

Since launch in May 2007, NSAFS network has grown from four to over 20 providers that are now located in seven regions. For more information, visit: www.nsafs.co.uk

The Winning Teams

1st Diploma in Professional Catering £547.19 - through cake sale, sponsored silence and walk

2nd Everything IT £414 - through leg waxing sponsorship (boys with hairy legs !!!)

3rd BTEC Hospitality Supervsion £360 - raffle for meal voucher and perfume

There was over £2,000 raised by the faculty of Service Industries.