Graham Cregeen MHK, Minister for Education and Children, has praised our Money Skills for Schools Week initiative on the Isle of Man.
MyBnk’s financial education experts, and volunteers from Old Mutual International are delivering award-winning programmes to over 600 Year 12 and 13 secondary school students.
The Minister joined us at Balakermeen School to see first hand how the government backed project is helping 16-18 year olds learn to budget, bank and borrow, understand taxes, tuition fees and employment rights and prepare for the cost of university and independent living.
“Whether heading into higher education or into the workplace, our students rapidly need to get used to handling their own finances, budgeting, completing tax returns etc. The ‘Money Skills for Schools’ programmes is offering age-appropriate, practical advice on the complexities of these areas. It will greatly complement work we do with other organisations to create financially savvy students.” Graham Cregeen MHK, Minister for Education and Children.
The Money Skills for Schools initiative comes on the first anniversary of our delivery expansion on the south coast of England, supported by Old Mutual Wealth, which has helped 2,000 young people learn to manage their finances.
“Young people here face unique challenges and bad budgeting* has been identified as the main debt trigger for Islanders. Managing money well opens up new opportunities and helps us make informed decisions – MyBnk and Old Mutual International are thrilled to be bringing money to life and helping young people prepare for the future”. Guy Rigden, MyBnk CEO.
“As the largest life assurance company on the island, we understand the importance of providing the generations of tomorrow with the skills and confidence to manage finances early in life. We are delighted to be supporting MyBnk to expand their services in a local community where we are a major employer. Learning how to use credit effectively, tackle debt or make wise spending decisions will help the students to live more prosperous lives.” Peter Kenny, Managing Director, Old Mutual International, comments: