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Financial Educator of the Year Competition!

 

personal finance teacher awardMoneywise magazine are on the hunt to find the UK’s best Personal Finance Teacher.

One of our biggest supporters, Old Mutual Wealth, is offering £5,000 to spend on equipment. Two runners up will receive £1,500 each for their schools. Teachers at both primary and secondary level are eligible for the competition.

MyBnk works closely with teachers to ensure our financial education programmes map into their curriculum and it has been amazing to see our resources used as evidence of impact in previous competitions.

Schools and parents can nominate who they think is deserving of the prize, and teachers can nominate themselves.

Judges are looking for teachers who make the teaching of personal finance fun, interactive and relevant. Many teachers practice financial education holistically, using a mixture of free resources, outside experts like MyBnk and training. The more original your entry, the better!

Guest judges include Moneywise editor Moira O’Neill, Suella Fernandes, MP for Fareham and member of the Education Select Committee, Kirsty Bowman-Vaughan, Financial Education lead, Money Advice Service, Jane Goodland, responsible business director, Old Mutual Wealth and Jeff Prestridge, the personal finance editor of the Mail on Sunday and columnist for Moneywise,

Enter, here.

Good luck and let us know how you fare on the Twitterverse!

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“The best thing that’s ever happened to me” – Guardian Awards Video

MyBnk wins a Guardian Charity Award!

MyBnk has won a national award for our work helping young people manage their money and start their own enterprise.

We were one of just five charities chosen from nearly 1,000 entries across the UK. Judges were wowed by our financial and enterprise education programmes for 11-25 year olds in schools and youth organisations. They were also impressed by our projects with vulnerable young people, consultation work, youth participation policy and growth.

Read all about it, along with a new frontline video, in today’s Guardian. We have also written a blog for The Money Advice Service and will appear on BBC Radio 1 tonight at 9pm delivering some festive money tips!

 

 

The judges said:

“MyBnk has demonstrated excellence and achievement in what they do. They deliver a clear benefit to young people, many of whom are disadvantaged by poverty, or are marginalised in some other way.”

Guy Rigden, MyBnk CEO, accepted our trophy at The Guardian’s headquarters in London, along with Oscar Njea-Nzo Asewandor, a member of our Youth Advisory Panel, and Jane Rawnsley, Group Head of Corporate Responsibility, of long term MyBnk supporter, Prudential plc.

It’s a hat-trick for the awards cabinet and a fantastic springboard as we enter for our 10th year. Exciting new projects include The Money House programme for young tenants, our expansion to Primary Schools and the Isle of Man and the integration of digital skills into our intervention and employability workshops.

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We even got to meet Sir Ian McKellen!

 

It is is also a recognition of the amazing progress of financial education in society as a whole. Financial literacy is now at the forefront of the life skills agenda with increasing support from civil society, industry and state via The Money Advice Service’s Financial Capability Strategy for the UK.

A big thank you to all our young people, funders, partners, teachers, youth workers, Trustees, Patrons and the MyBnk Team on a fantastic achievement!

Join in the fun as we celebrate on Twitter!

 

 

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Young adviser wins Jack Petchy award for financial education!

 

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A member of our Youth Advisory Panel has won a Jack Petchy Award for services to financial education!

18-year-old Elona Gega, met MyBnk at a Money Works session for young care leavers in Havering and has been helping improve our workshops for young people.

She also recently shared her experience of how MyBnk helped her take control of her life at the Westminster launch of the Money Advice Service’s Financial Capability Week.

Elona received her award from Guy Rigden, MyBnk CEO, at the latest termly YAP gathering at our London HQ.

The Youth Advisory Panel is core to our mission of empowering young people to take control of their future by bringing money and enterprise to life. It makes our games and activities relevant, effective and fun and offers opportunities for past participants to gain new skills and experiences.

If you or someone you know would like to join our YAP, please contact info@mybnk.org.

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MyBnk Speakers Club

 

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Tell your story and help more young people gain the skills to take control of their lives!

The MyBnk Speakers Club is an exclusive group of 11-25 year olds who feature on national TV and radio programmes, in newspapers and attend events at Westminster as our charity ambassadors.

Supported by our dedicated Communications Team, you will receive specialist training, improve your public speaking skills, take part in case studies and focus groups, grow your professional network, raise your personal profile and have the opportunity to gain work experience in a busy and growing charity.

You will also earn Vinspired volunteer points and qualify for Jack Petchy Awards of £200!

dsc_0021-1280x853Care about?

  • Debt.
  • Financial Education.
  • Youth unemployment.
  • Enterprise.
  • Independent Living.
  • Tuition Fees.

Join us today and SPEAK!

press@mybnk.org


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“I learned things about myself” – MUFG joins us on the frontline!

 

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In Autumn 2016, MyBnk became Mitsubishi UFJ Financial Group’s (MUFG) charity partner, supporting us to arm over 1,200 students with real-life money and business skills.  Angus MacGregor, Chief HR Officer, joined us on the frontline…

 

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“Earlier this month, I decided to sign up to volunteer at MyBnk’s Uni Dosh programme at Highbury Grove Sixth Form. I’d volunteered before with young people, however, I’d never worked with this age group.

Apprehensive at first, but having three teenagers of my own, I was prepared! The students were around 17 years old, just ready to go into university, and the session was aimed to help them understand how to manage their finances and give them tips about saving before they started that journey.

The students were very responsive, thanks in-part to the amazing style of the the MyBnk Education Officer who had captured their mood perfectly and I was able to talk to each and every student.

I offered advice from my own experiences which helped them understand a little more about their future activities. One student was amazed that the operational costs of maintaining a car could be anything up to £12,000 and decided that perhaps it wasn’t a great investment whilst trying to balance their new financial responsibilities.

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I felt I was able to add value to the session and really give important insights into the realities of university life. I learnt quite a bit myself, I learnt that a job in a local council library pays around £11 per hour, and that most students from this sixth form are planning to live at home and work two jobs whilst at university!

It was a great session to be a part of; I feel the students gained a lot. Sometimes it’s hard to tell with teenagers, you can often just get a grunt! But I could tell many of the points really landed and gave them something to think about. I really hope these young people succeed at university.

I’m sure I’ll be volunteering with MyBnk again in the near future and I encourage other colleagues from across banking to do so too.”

If you would like us to bring our financial capability and enterprise workshops to your young people, contact info@mybnk.org or if you are interested in supporting our mission, contact nicola@mybnk.org for more information.

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Matt, 18, zero hour contract: “MyBnk changed my life”

 

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Young people at Queens Park Rangers FC became money maestros after our financial education intervention workshops.

Our experts armed local teenagers on the Premier League Works project with budgeting, saving and safe borrowing skills so they can they can take control of their lives and make informed decisions for their futures.

Participant, Matt, 18:

“MyBnk has definitely changed my life, I really do have a different view on money and priorities. I wasn’t as confident in understanding money and was structuring my finances in a way that wasn’t was practical. Now I really feel clued up and ready to put what I’ve learnt into practice. I have learnt how to read bills, bank statements and payslips, and discover what’s important. I’m on a zero hours contract and I wasn’t sure what my entitlements were. They gave me the best advice and taught me how to manage my finances in a way that will help me in my work to become a football coach.”

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The ‘Money Works’ project, supported by the John Lyons Charity, is helping thousands of young people in London’s poorest areas.

Jack Kelley, Education & Employability Officer, QPR:

“The young people here certainly believe in themselves now.  Most of them come from difficult situations and I saw a dramatic change in the more challenging individuals. They were surprised with what they had learned. This kind of work is definitely needed, I even learnt a thing or two!”

 Guy Rigden, CEO MyBnk:

“Our advice to parents, ask your child’s school or youth group what they are doing to boost financial literacy and start talking about money at home. Together we can ensure young people dodge debt and avoid the mistakes of the past.

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If you would like us to bring our financial capability and enterprise workshops to your young people, contact info@mybnk.org or if you are interested in supporting our mission, contact nicola@mybnk.org for more information.

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MP praises students who quadruple their enterprise dough

 

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Smashed it!

Ruth Cadbury MP has hailed Year 8 Students at The Green School who made £250 profit in a social enterprise challenge. 

In just four days, 12 year olds went from drawing board to bona-fide traders, selling £60 of ethical goods like urban guerrilla gardening Seedbombs, Fair Trade chocolate and natural beauty products to make a 400% profit!

Experts from the education charity MyBnk taught them how to give sales pitches, budget, market products and write business plans.

The Brentford & Isleworth MP said: “Supporting entrepreneurship skills is key to building a thriving economy and is an opportunity to reduce youth unemployment across the UK. MyBnk’s enterprise programmes puts young people’s new business skills into action with tangible outcomes. By starting from an early age we can ensure confident, resilient and engaged citizens ready to sell Britain to the world.”

Ella Traczy, 12: “I really loved the sense of achievement, and as a group we made lots of money. I really enjoyed our presentation at the end and receiving our certificates. I really want to continue selling the products with MyBnk.”

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The Enterprise-in-a-Box project, supported by players of People’s Postcode Lottery, is helping thousands of young people in London’s poorest boroughs learn key employability and soft skills like negotiating and customer interaction.

The Isleworth school session took place during Global Entrepreneurship Week where hundreds of thousands of young people across the world learnt about business, by doing it for real.

Chrissy Humphrys, Teacher, The Green School: “The MyBnk sessions are practical and innovative. These kind of classes are crucial to young people of today. I was really impressed with the style of teaching, and the great connection they have with the children.”  

Emily Wooden, 12: “We inherited lots of responsibility. We encouraged each other and loved the opportunity to sell. The best part was actually seeing the money we have raised. I got a great buzz being creative in our presentations at the end of the session.”

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Natasha Sisodie, 12: “EIB gave me the opportunity to make money and improve on my communication skills. I enjoyed interacting with my friends and MyBnk taught me a lot. We complimented each other and learned from each other.”

MyBnk CEO Guy Rigden: “This is the power of enterprise! Young people not only learnt vital employability skills, they used their new business smarts to make big profits. Projects like ours are a key first step in young people being their own boss.”

If you would like us to bring our financial capability and enterprise workshops to your young people, contact info@mybnk.org or if you are interested in supporting our mission, contact nicola@mybnk.org for more information.

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Day 4 FinCap Week – MP backs MyBnk money mission on south coast

 

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Southampton Test MP Dr Alan Whitehead has praised efforts arming local young people with vital money skills during national Financial Capability Week.

The Money Advice Service initiative is the first ever UK-wide campaign to raise awareness of the importance of ‘financial capability’, which they find as stubbornly low.

Since April, a thousand 11-25 year olds have learnt how to budget, bank and borrow thanks to workshops by the charity MyBnk and supported by local-employers, Old Mutual Wealth.

Dr Alan Whitehead MP for Southampton Test: “I am delighted to support Financial Capability Week. This important campaign aims to make it easier for people to better manage their money day-to-day and during periods of financial difficulty. The collaboration between MyBnk and Old Mutual Wealth to bring financial education to local schools is a fantastic initiative to help children develop a vital life skill.”

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The Hampshire region is one of the UK’s most indebted areas, adding £359m to the nation’s £1.45 trillion debt mountain. Its wards are also ranked within the most deprived 20% in the country.

MyBnk is doubling its efforts on the south coast with Old Mutual Wealth for 2017 and is currently recruiting for freelancer support to deliver workshops. Contact jobs@mybnk.org for more.

Anna Hutchings, Activities and Support Coordinator, Winchester Young Carers: “The workshops MyBnk delivered are fantastic and totally met the complex needs of our young people. They really enjoyed the fun, engaging, informal, but informative way, MyBnk bring such an important subject like money to life.”

Jane Goodland, Responsible Business Director, Old Mutual Wealth: “Our work with MyBnk in local schools is helping ensure young people make wise spending decisions so they can live more prosperous lives. Alan sees how collaboration between grassroots charities and local employers can make a powerful impact on the frontline. We want to show more young people how they can master money – teachers, youth workers, please get in touch.”

Guy Rigden, CEO, MyBnk: “We want to thank everyone in Southampton who have helped us bring money to life for young people this year. Managing money well opens up new opportunities and helps make informed decisions. When it comes to debt, prevention is always cheaper than the cure and right now, as individuals, we owe £1.45 trillion. Financial Capability Week shows we can effectively tackle one of the root causes of poverty.”

If you would like us to bring our financial capability and enterprise workshops to your young people, contact info@mybnk.org or if you are interested in supporting our mission, contact nicola@mybnk.org for more information.

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Day 3 FinCap Week – Juanita, 22, mother of two, financially and digitally excluded, no more

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Many young people are unprepared for the realities of adult life. They name debt as their biggest fear and are not saving, leaving them at risk of financial exclusion and unable to take control of their lives.

MyBnk intervenes in vital transitional moments to detoxify their relationship with money, helping them to become more financially capable. Over two days, our experts worked with the Young Women Resource Project, delivering our survival money management programme, Digital Money Works.

Juanita, 22

Juanita is a mother of two, and because of her past association with financial fraud, no bank will allow her to open an account.

Despite describing herself as a compulsive buyer she knows she should be saving money to provide for her family, but the banking barrier means she cannot even open a savings account, let alone a current. As a result, she is often caught short in emergencies.

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Small amounts of money matter big time to Juanita. During the session, Sharan, the MyBnk trainer, showed her how comparison sites such as uswitch.com could free up her finances. In just a few simple steps she discovered that she could save £78 per year for her gas bill. However, despite making positive steps towards taking control of her money, she could not action the decision because she did not have a bank account.

Other barriers included not being able to get a mobile phone contract, her only access to the internet, meaning she was also digitally excluded and could not pay for things online. The situation has led to her working illegally, cash in hand with unreliable hours.

“I feel trapped”.

Juanita had never heard of a credit union. After our trainer explained how they work she saw that she was eligible to join and that after several months of account stability, may be able to get a fully-fledged bank account.

Whilst money is still a stress trigger, her relationship with it has become more positive. Combined with gaining hands on skills such as budgeting and controlling her spending, she now feels more confident dealing with debts, and has found an answer to her issue with banks.

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This programme recently won an award from Children & Young People Now, recognising MyBnk as providing the initiative that has done the most to help young people make a smooth and successful transition to adulthood by supporting their accommodation, health, housing, and training and employment needs.

This programme received seed funding by Lloyds Banking Group and was delivered as part of the Doteveryone – Go ON Lewisham digital skills project.

If you would like us to bring our financial capability and enterprise workshops to your young people, contact info@mybnk.org or if you are interested in supporting our mission, contact nicola@mybnk.org for more information.

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