A joint MyBnk financial education project boosting the money skills of young deaf and blind people has won People’s Postcode Lottery’s Dream Fund.
Over 1,000 16-25 year olds living with sight or hearing loss will learn how to budget, bank and borrow safely, in their first language, with specialist programmes designed in partnership with The Royal Association for Deaf People and Royal Society for Blind Children.
90% of those diagnosed with sight loss in youth did not work for more than six months of their lives, while an estimated 70% were living on the poverty line.
The ‘Money Mechanics’ project will help young people become financially confident, to take control of their lives, to sustain work, to move into independent living and to live life ‘without limits’.
A massive thanks to players of People’s Postcode Lottery!
“This project will have a lifetime impact on the everyday interactions of vulnerable young people, be it budgeting, understanding bills, prioritising debts or earning money, as well as on their aspirations for the future, for example considering university, starting their own business, or moving into their own home.” Guy Rigden, CEO of MyBnk.
“Our shared experience has proved time and again that deaf and blind young people are not being supported at school to grasp the fundamentals of handling money. This gap in their knowledge creates barriers to their economic and social independence. Money Mechanics will make sure young people with sensory impairment has the knowledge and skills they needed to deal with their finances effectively and independently.” RSBC chief executive, Dr Tom Pey.
Since 2005 players of People’s Postcode Lottery have raised an incredible £168.4million for charities and good causes across Great Britain and internationally.