We welcome the first in a series of new MyBnker blogs from the frontline of financial education and enterprise for young people. Everyday our experts deliver workshops in schools and youth groups across the UK – bringing money and business to life.
Today we hear from Education Director Sharan Jaswal on our recent work helping young offenders learn to manage their money once released.
It’s been an exciting few months at MyBnk as we started delivering our Money Works programme in youth offender institutes after being approached by HMP Feltham YOI to support their pre-release education programme ‘Getting it Right’.
We’re very pleased to have started this work, as it is such a transitional time for these young men. They are about to get a second chance to rebuild their lives on the outside, and their mind-set is one of setting goals and making better decisions.
Many are unable to return to their homes after their sentence and will be put into social housing with no grasp of Universal Credit and the challenges this will present them. Some are coming out to years of accumulated debt that they mistakenly thought would be written off.
Several also have young children on the outside that they’re wanting to provide for after not being able to whilst inside. The work we are doing is vital in empowering them with the knowledge, skills and confidence to take control of their finances as soon as they are released, before it takes control of them.
Since December 2015, we have delivered eight Money Works programmes in YOIs, reaching 51 young offenders, 40 of whom achieved a Level 1 Personal Money Management accreditation. We’re looking forward to continue and expand on our work with young offenders, so watch this space!
After a very successful first session, Feltham are now starting to book us in monthly and have referred us to other institutes. The impact of our sessions has been significant – both the participants and case workers have been extremely pleased:
“Very informative – I have learnt how to manage my money properly and carefully. When I get a job it will help me be able to budget my money. I found the course very empowering and loved it! ❤” – RW, 21, HMP Feltham.
“This programme was very helpful. I now understand a lot about Tax/NI/APR/AER. I can budget much better. I understand the minimum wage. It was a pleasure to work with them. Thanks to them – they were amazing.” – TJ, 23, HMP ISIS
MyBnk were amazing! The group ran brilliantly over the two days and they managed to keep the boys engaged throughout, which is no easy task. I am really pleased with how the course ran and the professionalism of both your trainers. The boys really enjoyed the course and have already recommended it to their friends! ” – Natalie, Resettlement Coordinator, Getting it Right, Catch 22.
For more, see our recent case study from HMP ISIS Young Offenders Institution:
To request a Money Works session, please complete our booking form.