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Students put own-clothes day money towards their financial education

Pupils at Bohunt School, Hampshire, have donated nearly £200 to ensure they receive more financial education from MyBnk!

All this term 11-14 year olds at the Liphook school have been taking part in expert-led Money Twist workshops teaching them how to budget, bank, save and understand public finance, as part of a Hampshire-wide programme supported by Southampton-based Old Mutual Wealth.

After raising £163.50 from a non-uniform day they decided they wanted to learn more about managing their money and staying out of debt. The donation will go towards further sessions covering pensions, investments and consumer choice.

“Our students are using this vital knowledge and applying it to their daily lives and Maths lessons. They often ask when ‘will we learn about money again?’ and this donation was their way of saying thank you, and will you come back soon!” Lian Thomas, Teacher, Bohunt School.

The Financial Conduct Authority has warned that a growing number of young people are having to borrow to cover basic living costs. Just 7% of 7-17 year olds have spoken to their teachers about money and only a third of parents have done likewise, according to the Money Advice Service.

MyBnk has been arming thousands of Hampshire students with hands on money skills thanks to local employer Old Mutual Wealth, one of the UK’s leading wealth managers.

“Research shows that like many behaviours, our attitudes to money are shaped at a young age. Therefore, gGaining the skills and confidence to manage finances early in life is critically important. We are delighted to support MyBnk in bringing their services to a local community where we are a major employer. We’ve received some excellent feedback about the lessons, but there is no greater endorsement than the children helping to fund extra classes themselves.” Jane Goodland, responsible business director at Old Mutual Wealth.

“It’s inspiring to see young people so passionate about their future. There can be no greater lessons than learning to live within your means, and make informed choices and enterprising decisions. UK personal debt is £1.5tr and schools need support to teach these vital life skills.” Guy Rigden, CEO, MyBnk.

If you want to bring money skills to your child’s classroom, please contact info@mybnk.org.

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