MyBnk Home

Donate LinkedIn Flickr YouTube Twitter Facebook
Young People Click Here

Young adviser wins Jack Petchy award for financial education!

 

img_9529-800x533

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 Newham 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.

Posted on by MyBnk in Uncategorized | Leave a comment

MyBnk Speakers Club

 

kevani

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


img_0234

img_8811-1024x683

Posted on by MyBnk in Uncategorized | Leave a comment

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

 

cw0dvg4wqaaeyd4

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…

 

stripe1

 

“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.

img_5316

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.

Posted on by MyBnk in Uncategorized | Leave a comment

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

 

img_9351

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

Our experts armed local 18-year-olds on the QPR Neet employability programme with budgeting, saving and safe borrowing skills to 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 taught and me how to manage my finances in a way that will help me in my work to become a football coach.”

img_9330

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.

img_9277

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.

Posted on by MyBnk in Uncategorized | Leave a comment

MP praises students who quadruple their enterprise dough

 

img_9207-1280x787

Smashed it!

Ruth Cadbury MP has hailed Year 8 Students at The Green School 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.”

small

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 joined hundreds of thousands of young people across the world in learning 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.”  

Teachers and youth workers are urged to take advantage of a range of funded workshops.

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.”

img_9102-1280x853

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.

Posted on by MyBnk in Uncategorized | Leave a comment

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

 

old-mutual-mybnk-14th-oct-2016-high-res-039-1280x854

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.”

old-mutual-mybnk-14th-oct-2016-high-res-032-1280x854

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.

Posted on by MyBnk in Uncategorized | Leave a comment

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

img_8972small-1280x853

 

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.

img_8900-1280x853

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.

img_9021-1280x853

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.

Posted on by MyBnk in Uncategorized | Leave a comment

Day 2 FinCap Week – LSE Charity Trading Day!

 

lse_charitytrading_edit_001

London Stock Exchange Group has donated a day’s worth of share trading fees from across their markets to support financial education for young people and other good causes.

Teachers and youth workers in the London Borough of Waltham Forest can book funded money skills sessions covering everything from debt busting and student finance to tax and enterprise. Over 700 young people will learn how to budget, bank and save.

Marking the occasion during the Money Advice Service’s Financial Capability Week, Xavier Rolet, CEO, London Stock Exchange Group welcomed Guy Rigden, MyBnk CEO, and other beneficiaries from Unicef UK and the Ellen MacArthur Cancer Trust, to open trading on London’s markets. LSEG employees have raised thousands of pounds for charity throughout the year.

MyBnk will deliver the UK’s highest rated money skills programme for young people, Leaving Care Award winning debt intervention workshops and real money enterprise challenges.

 

lse_charitytrading_edit_008

 

Xavier Rolet, CEO, LSEG:

“We are delighted to welcome inspirational charities to London Stock Exchange today to open the market at the start of what we hope will be a buoyant day of trading. MyBnk and all of the other charities the LSEG Foundation supports around the world are an inspiration to us all. Together with our customers and employees, we will continue to raise money and promote their good work for disadvantaged youths.” 

Guy Ridgen, CEO MyBnk:

“MyBnk are thrilled to be bringing money to life for young people in Waltham Forest thanks to the support of LSEG and its employees. 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. Schools, teachers, youth workers, please get in touch.”

Schools and youth organisations can register their interest at www.mybnk.org or contact info@mybnk.org. If you would like to see a session in action, please contact declan@mybnk.org.

Posted on by MyBnk in Uncategorized | Leave a comment

Day 1 FinCap Week – Elona shares her money story at Westminster

 

cxovxydxuaeqdtm

18-year-old care leaver and MyBnk Ambassador Elona has helped launch Financial Capability Week in Westminster by sharing her story of how MyBnk helped her take control of her life.

MyBnk and supporters of money skills for young people gathered at the Money Advice Service (MAS) event to hear the latest on our collective mission to help Britain master personal finance.

Suella Fernandes MP, Chairman of the All Party Parliamentary Group on Financial Education for Young People, also revealed worrying headline statistics from MAS’ new study. See our response, here. MAS Children & Young Person Lead Kirsty Bowman-Vaughn also revealed how the government body is helping teachers by evaluating providers.

 

secondHowever, Elona stole the show, telling guests of her experience on our lead intervention programme, Money Works:

“Financial education has helped me take control of my life.

I am 18, go to college in North London and I am in the Leaving Care System. I face the same kinds of challenges of people my age, some more so than others. I recently started living independently for the first time. I was 17 when I had my first money lesson.

I was always good at Maths, but there was little opportunity in life, at home or school to manage money or understand its value. Money to me was ‘out there’, no worries, someone is paying for things.

Tax, debt, insurance, borrowing safely. These were very unreal things.

 

Reality

Suddenly, it became very real. I and my friends had to face reality, sooner maybe for me than others. It crept up on me that I would have to make choices, live with those choices and manage my own money to survive.

The workshops I had with the charity MyBnk, helped me prepare for the real world. They made it fun. Finance, fun?! The style, trainers and games made things like budgeting more accessible. I want to go to university, but didn’t know what support there was. I wanted to save, but couldn’t work out the banking terms. MyBnk showed me how. It made sense now, I could do this!

 

Impact

Financial education taught me how to budget, so there is food in the fridge, how to find the best energy bill, so I can keep the lights on, the difference between my needs and wants, so I no longer spend £50 a month on clothes and start to save. Now I feel more confident and I can protect from myself from debt. I am more capable.

But, I was lucky, MyBnk were there at the right place at the right time to help me. All young people should have the opportunity to have good financial education so they can take control of their money and make good decisions.

 

My one piece of advice…

The experience has inspired me to volunteer with their charity and help other young people like me. I have joined MyBnk’s Youth Advisory Panel who help make sure their projects work.

The one piece of advice I can give to people who want to help is, listen to the voices of young people. Understand their needs, create solutions with us to make it better. Adults sometimes think they know what is best, but we know more than you think!

Back what works, then, build it with us.

If you would like us to bring our 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.

Posted on by MyBnk in Uncategorized | Comments Off on Day 1 FinCap Week – Elona shares her money story at Westminster

MyBnk responds to FinCap Week research

 

IMG_7778

The Money Advice Service have published worrying statistics in relation to young people, parents, teachers and financial education.

Findings include:

  • Four in ten adults have less than £500 savings to cover an unexpected bill.
  • Just 7% of 7-17 year olds have talked to their teachers about money.
  • Only 1/3 parents talk to their children about money.
  • Less than half (43%) of young people and 44% of parents feel confident managing money.
  • 9/10 of young people who learned about money at school said it was useful.

Our response:

“These findings suggest an alarming number of young people are not getting the financial education they need at home or in school. However, this study also reveals the huge potential of effectively engaging them with money.

MyBnk and our sector are embarking on a range of studies with the Money Advice Service to test what works on the frontline, including direct delivery, where we have helped over 160,000 young people using trained experts.” Guy Rigden, CEO MyBnk.

See more on our activities for the the week, here.

If you would like us to bring our 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.

Posted on by MyBnk in Uncategorized | Leave a comment
← Older posts