A tin of baked beans is a tasty treat for some, but for others the humble dish offers useful lessons in money management.

Newham Recorder: Newham Sixth Form College students at Money A+E's workshop on money management.Newham Sixth Form College students at Money A+E's workshop on money management. (Image: Archant)

Newham Sixth Form College students got stuck into dishes of the stuff on Tuesday in a blind tasting while learning about how to make savings.

Twenty youngsters, who have started their own business projects making and selling products such as T-shirts and candles with henna designs at Plaistow youth market, took part in the day, organised with money advice service Money A+E.

The non-native English speakers and foundation level students dined on different brands of beans, lemonade and crisps to see which they prefer - the expensive, branded choices or the cheaper varieties.

NewVIc’s student development leader Dr. Steven Kern said: “It was a very engaging workshop. The message was everyone has taste, but if you’re trying to save money buying something not branded is going to give you a saving. Our students were really receptive to the idea.”

Newham Recorder: Twenty students also tasted lemonade as part of the workshop.Twenty students also tasted lemonade as part of the workshop. (Image: Archant)

Commenting on the college’s enterprise programme, Steven added: “It’s quite wonderful really. The students make money while they’re learning. They love running their own businesses.”

By the end of their baked bean feasting, students were shocked to discover they had chosen the cheapest as the best tasting.

Steven noted: “That worked out nicely. It reinforced the message to shop around for best deals and that brand names do not necessarily mean the best tasting.”

It is hoped the college’s money management workshop will teach a key life skill with a parliamentary report out last year showing 20 per cent of 18 to 24-year-olds in the UK over-indebted.