Save by the Bell has been set up to give young people in Dundee the opportunity to learn about saving and gain an understanding of how money works. As a part of this project, we run weekly collections and financial education sessions in schools and nurseries to encourage children and young people to develop a regular savings habit and money management skills to support them as they become active participants in society.
Each school has been assigned a specific collection day where the pupils can deposit their money. School collections are run by P6/P7 pupils at the schools, under the supervision of adult volunteers. Any sum of money can be deposited as no sum is too small. Every saver receives a pack with a savings book, where all the transactions are entered. Many of the young savers have bank accounts but they never get the experience of actually going and saving the money. Save by the Bell provide pupils the opportunity to save within the school setting and watch their savings grow. Research shows learning to save when young helps with money management skills as they get older.
Save by the Bell has been in primary schools across Dundee since 2006, and are funded by Dundee City Council as a part of improving the financial capability and awareness of young people in Dundee. We work in partnership with Discovery Credit Union (DCU) who are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. All the Save by the Bell accounts are held with Discovery Credit Union Ltd.