The 13-week self-study programme will help Duke of Edinburgh award takers better understand money management and personal finance.

It has been designed as a series of one-hour modules to be completed each week.

Topics include personal finance, budgeting and understanding credit.

Modules will be supervised by the My Personal Finance Skills team.

The new module will form part of the skill section of the Duke of Edinburgh Bronze Awards and has been funded by the Chartered Insurance Institute’s education and training trust charity EATT.

My Personal Finance Skills delivers free financial education workshops to schools across the UK via a network of PFS members.

Mark Hutchinson, membership director of the Personal Finance Society, said: “Financial education is a vital aid to helping people achieve their life goals, providing them with the knowledge and skills needed to make well-informed choices about their finances.

“We hope this self-study module will give young people working towards their Duke of Edinburgh Bronze Award the confidence to manage their money, and perhaps encourage them to consider a rewarding career in financial planning and helping others to improve their financial resilience.”

Simon White, chair of EATT, said: “The Education and Training Trust of the Chartered Insurance Institute is very pleased to be able to support this programme which we hope will make financial education and training accessible to a wider and younger audience.

“As well as developing key life skills, those participating will be able to share their learning and we hope, will be able to help those around them to be more aware of monetary scams, be able to try and budget more wisely and of course gather an understanding of how insurance is such a fundamental part of our lives."