MyBnk is excited to announce a renewed and expanded UK financial education partnership with the Quilter Foundation.
The new three year project will see nearly 10,000 young people in London and Southampton learn how to bank, budget, borrow and save through workshops delivered by MyBnk’s experts and supported by Quilter Ltd volunteers.
Since 2016 our charity have worked with the Quilter Foundation to bring money lessons to secondary schools in areas of high deprivation and poverty. Now primary school pupils and young care leavers will benefit from expert-led programmes designed to improve habits and survival money management skills.
The partnership will deliver specialist interventions for over 1,200 vulnerable young people aged 16-25. One of which, The Money House, supports young people about to moving into social housing – helping them to keep their first home. The other, Money Works, will help young people not in employment, education, or training.
One third of care leavers become homeless within the first two years of leaving care yet only 1% of our graduates have ever been evicted.
Research
Joint research with Quilter, via The Centre for Financial Capability has shown that children with low financial literacy scores tend to come from poorer areas. These children also benefit the most from money lessons – their knowledge, skills and savings rising by 56% as opposed to an average of 7% nationwide as a result of our work.
Together we will create a multi-year programme that will bring communities together and help build a movement to change the futures for thousands of young people across the UK.
Stewart Perry, Head of Responsible Business, Quilter says:
“I am thrilled to announce our continued partnership with MyBnk. We are proud to continue to be a part of creating sustainable and systematic change through ‘best in class’ financial education. We recognise that to bring about change and truly impact the next generation we need to fix low financial capability, particularly amongst the most disadvantaged, and give children the tools to manage their money effectively.
“The nation is still coping with the economic impact of the pandemic and young people, particularly the most vulnerable, are likely to continue to disproportionately bear the brunt of this. Therefore, now is the time to be ploughing our efforts into ensuring this generation have the knowledge to ensure they don’t make costly financial mistakes and achieve financial wellbeing.
Guy Rigden, CEO, MyBnk says:
“We know that money habits are formed at primary school age and that young adults are facing a series of unprecedented economic pressures. This partnership will ensure young people receive a meaningful financial education to help them start saving and living independently”.
If you would like to book a session for your school or youth organisation visit our programmes page or for more information contact info@mybnk.org.
