Staff from a local building society are helping kids learn about money management through engaging lessons and resources
Low Street: Employees from the local building society have been busy teaching kids about money. They’ve teamed up with branches in Bradford and Shipley to offer free financial lessons.
Last year, around 240 young people got to join in on these sessions through the Money Minds program. It’s all about giving them the tools they need to handle their finances better.
Chris Irwin, the savings director, shared that helping folks with their financial wellbeing is a big part of what they do. He believes that when people learn to save and manage money, they feel less stressed and more satisfied with life.
He pointed out that financial education isn’t the same everywhere in the UK. That’s why their team volunteers to go into schools and youth groups, teaching kids of all ages about money matters.
Chris also mentioned that many young people learn about finances from their families. Unfortunately, those from families who aren’t financially savvy might miss out. So, there’s a real chance to help the next generation get a solid start by teaching them essential skills in school.
He emphasized that consistent financial education from a young age can really help kids face life’s challenges with confidence. It’s all about giving them the knowledge they need to tackle real-life issues.
Interestingly, research showed that less than half of 16-to-27-year-olds remembered getting any financial education in secondary school, even though it’s been part of the national curriculum since 2014.
The society has made recommendations to the Government to improve financial education in schools. A report on this is expected to come out soon.
Over the past decade, their face-to-face finance sessions have helped more than 70,000 kids across the country. Plus, they’ve got an online platform at ybsmoneyminds.co.uk, offering free resources on budgeting, keeping money safe, and avoiding scams.
