’Inspiring’ was the description used by some pupils after a special session about financial management at Castle Rushen High School.

The year seven children (aged 11 to 12) completed what was described by the school as an ’energetic and well-delivered’ programme which allowed them ’to practise the skill of budgeting and juggling the concept of whether a purchase was a need or a want’.

Run by the UK charity MyBnk, the Money Twist programme gave pupils the chance to meet members of the business community and think about a key skill: their own financial literacy.

Ian Kay, assistant head with responsibility for years seven to nine, said: ’We are extremely grateful to both MyBnk and their supporters, Old Mutual, for providing children in the island’s southern community with such a thought provoking and valuable opportunity.

’MyBnk’s staff were ably assisted by members of our business community who were able to deliver locally relevant information to our young people.’

Lucie Sutterby, aged 11, a member of the school’s student council, said: ’The day was inspiring.

’We were told all about the jobs we can and cannot do when we are 13, about the minimum wage, and about how much holiday we should get. We learnt about how to manage our money and pay bills. It was really helpful.’

Her friend, Eden Cannell, also 11, agreed.

Headmaster Keith Winstanley, said: ’This has been a great partnership event, where our students had an opportunity to undertake some early financial education with professional business people who gave us their expertise and acted as really good role models.

’I would also like to thank all the people involved. Student engagement has been fantastic and I hope that our pupils will take this increased understanding forward into their teenage years. Managing your money is an important life skill; salaries, loans, mortgages, interest rates and credit are all aspects of life that children need to be prepared for.’