Plain English Summary
Background and study aims
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. The aim of this study is to test the Key Stage 4 and post-16 workshops to explore the impact of the workshops on students’ confidence, attitudes and knowledge relating to money. The study will also investigate how the workshops are delivered, and teachers’ views on the workshops.
Who can participate?
In each institution, Key Stage 4 students (Year 10 or 11) and/or post-16 students (i.e. Year 12 or 13) at around 100 institutions (schools and colleges)
What does the study involve?
Participating schools are randomly allocated to either the intervention group or the control group. Intervention group schools receive workshops in autumn 2017 (Oct-Dec). Control group schools receive workshops in spring 2018 after data collection is complete (late Jan-April). All schools nominate a key staff contact for the project. Schools select suitable dates for the workshops for both terms, are allocated a Workshop Consultant, and have workshop dates confirmed after random allocation. Students in all participating schools complete online surveys at the start of the study and at follow-up. In intervention schools, a key teacher completes a staff survey, and some schools take part in evaluation observations and case studies.
What are the possible benefits and risks of participating?
Schools allocated to both groups 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.
Where is the study run from?
The National Foundation for Educational Research (NFER) (UK)
When is the study starting and how long is it expected to run for?
May 2017 to June 2018
Who is funding the study?
The Money Advice Service (MAS) (UK)
Who is the main contact?
Pippa Lord
p.lord@nfer.ac.uk
Trial website
https://www.nfer.ac.uk/schools/taking-part-in-our-research/MCWS/
Contact information
Type
Public
Primary contact
Ms Pippa Lord
ORCID ID
Contact details
National Foundation for Educational Research (NFER)
Unit G3
IT Centre
York Science Park
Heslington
York
YO10 5NP
United Kingdom
+44 (0)1904 567633
p.lord@nfer.ac.uk
Type
Scientific
Additional contact
Dr Ben Styles
ORCID ID
Contact details
National Foundation for Educational Research
The Mere
Upton Park
Slough
SL1 2DQ
United Kingdom
Additional identifiers
EudraCT number
ClinicalTrials.gov number
Protocol/serial number
MCWS
Study information
Scientific title
A randomised controlled trial of the impact of The Money Charity Workshops in Schools on Key Stage 4 and Post-16 students' attitudes and intended behaviour relating to managing money
Acronym
MCWS
Study hypothesis
Taking part in The Money Charity's Workshops in Schools changes students' attitudes and intended behaviours relating to managing money, and increases students' confidence, knowledge and skills relating to money matters.
Ethics approval
The study has been approved by the Money Advice Service What Works Fund, and comes under the National Foundation for Educational Research's Code of Practice (adherence to Code of Practice documented at project start up 09/05/2017)
Study design
Interventional multi-site cluster randomised controlled trial
Primary study design
Interventional
Secondary study design
Cluster randomised trial
Trial setting
Schools
Trial type
Other
Patient information sheet
Not available in web format, please use contact details to request a participant information sheet
Condition
Young people's financial capability
Intervention
Schools will be classed as either Key Stage 4 only, Post-16 only, or both, and randomisation will be stratified by this identifier so that schools are either allocated to the workshops or to the control group. Randomisation will also be stratified by consultant area, to avoid random clumping of schools in certain locations which might lead to logistical problems with workshop delivery.
The Money Charity Workshops for Schools cover aspects of money and finance and aim to improve students' confidence, knowledge and skills relating to money matters. The hour-long workshops are delivered across a whole year group in classroom sized groups, by trained presenters (known as consultants), and include a range of engaging activities and discussions for students.
The Key Stage 4 trial focuses on Workshops A (setting goals and budgeting) and B (savings and credit). The Post-16 trial focuses on either Workshop A (planning for student life) or Workshop B (planning for independent living), plus Workshop C (savings, credit, banking, insurance). However, schools can select fewer or more workshops at KS4 (A-D), and fewer at Post-16 (A, B or C only) if they wish.
Intervention group schools will receive workshops in autumn 2017 (Oct-Dec). Control group schools will continue business as usual as regards their provision for financial education during the trial period and will receive workshops in spring 2018 after data collection is complete (late Jan-April).
Jan 2018
All schools: Student follow-up survey for all baseline students
Intervention schools: Teacher survey
Feb-Mar 2018
Case studies in intervention schools
Workshops in control schools (late Jan-April)
Intervention type
Behavioural
Phase
Drug names
Primary outcome measure
Students' attitudes and intended behaviour relating to managing money, measured via a scored self-report questionnaire delivered at baseline (September/Oct 2017) (to be used as a covariate in the outcome model) and after the workshops (Jan 2018) (in order to explore the difference between the intervention and control group responses)
Secondary outcome measures
Students' confidence and knowledge relating to money matters, measured via a scored self-report questionnaire delivered at baseline (September/Oct 2017) (to be used as a covariate in the outcome model) and after the workshops (Jan 2018) (in order to explore the difference between the intervention and control group responses)
Overall trial start date
09/05/2017
Overall trial end date
30/06/2018
Reason abandoned (if study stopped)
Eligibility
Participant inclusion criteria
For the KS4 trial: A whole year group of Year 10 or Year 11 students who have not taken part in a Money Charity Workshop within Key Stage 4 before
For the Post-16 trial: A whole year group of Year 12 or Year 13 students, or those aged 18 - 19 if in a post-16 college, who have not taken part in a Money Charity workshop at post-16 before
Participant type
Other
Age group
Other
Gender
Both
Target number of participants
104 institutions in total; made up of 52 in KS4 (26 intervention and 26 control), and 52 at post-16 (26 intervention and 26 control). Approximately 5,720 students in KS4 (ca. 110 per KS4 institution), and approximately 4,056 students in post-16 (ca. 78 per post-16 institution)
Participant exclusion criteria
1. Schools geographically outside of the consultant delivery areas
2. Special schools and Pupil Referral Units
3. Students who have taken part in a Money Charity Workshop within the same key stage before
Recruitment start date
16/06/2017
Recruitment end date
16/10/2017
Locations
Countries of recruitment
United Kingdom
Trial participating centre
National Foundation for Educational Research (NFER)
SL1 2DQ
United Kingdom
Sponsor information
Organisation
The Money Charity
Sponsor details
15 Prescott Place
London
SW4 6BS
United Kingdom
Sponsor type
Charity
Website
Funders
Funder type
Charity
Funder name
The Money Charity
Alternative name(s)
Funding Body Type
Funding Body Subtype
Location
Funder name
Money Advice Service
Alternative name(s)
Funding Body Type
Funding Body Subtype
Location
Results and Publications
Publication and dissemination plan
1. Protocol can be found at: https://www.nfer.ac.uk/pdf/MCWSEvaluationProtocol.pdf
2. The trial will be reported as part of the Money Advice Service What Works Fund https://www.fincap.org.uk/what-works-fund round of reports in July 2018
2018 results in https://www.nfer.ac.uk/media/2848/mcws.pdf
IPD sharing statement
The data sharing plans for the current study are unknown and will be made available at a later date
Intention to publish date
Participant level data
To be made available at a later date
Basic results (scientific)
Publication list