News

WIZE UP AND JACK PETCHEY FINANCIAL EDUCATION CREDIT AND LOANS WORKSHOP

"WIZE UP AND JACK PETCHEY FINANCIAL EDUCATION CREDIT AND LOANS WORKSHOP – TUESDAY 2nd JUNE

On Tuesday 2nd June, all of our Year 10 students took part in an inspiring workshop, the first of a series of four sessions hosted by Wize Up in partnership with the Jack Petchey Foundation.

Linking to our Careers and PSHCE curriculum at Gaynes School, the session focused on developing students’ financial awareness and understanding of credit, the different types of finance available, and their purpose. Students compared a range of credit card offers, debating which option represented the best value based on factors such as APR, hidden charges, cash withdrawal fees and annual costs.

The workshop also explored what a credit score is and how lenders use this information to evaluate an individual’s creditworthiness. Students examined the criteria that financial institutions consider when assessing applications and discussed how these measures help minimise risk for lenders.

This learning was then applied through a practical activity in which students assessed a range of fictional applicants, deciding whether they would approve or decline requests for finance. By considering factors such as income, employment status, existing debt and repayment history, students gained a valuable insight into the decision-making process used by lenders.

The session encouraged students to think critically about financial responsibility and the importance of developing positive money-management habits from an early age. We look forward to welcoming Wize Up back for the last workshop taking place during futures week."