Mega Wednesday hit on Day 3 of Global Money Week which saw MyBnk bring money and enterprise knowledge to 450 young people in 12 schools and youth groups across the UK!
Students at Hasmonean School, London, learnt important lessons running their own business in our Enterprise-in-a-Box session. Here, young people are trained to sell a range of ethical products. Our experts emphasised the importance of correct pricing to make a profit and how to handle money so they could begin to run their own social enterprise, for real!
This enterprise education programme showcases a strong sense of money management skills as individuals will have to work in teams to make sure they are pricing their products at a profitable price and they have to work together to make sure the money they earned is being handled properly.
“Some people don’t want to be employed by someone else, they don’t want a normal job that they could be bored in so it’s really important to learn about enterprise at a young age so you can make your own money that you can earn for yourself. I can’t wait to start selling, our team really wants to be the best!” Chava, 13, Hasmonean
We also welcomed 23 students from the Europa International School, Barcelona, who took money and gave it a Spanish twist as they tackled the universal truths about managing cash. Of particular interest was how capital flows between financial institutions and how banks actually make profits. A game of money dominoes, matching the terminology to the explanation, also broke down the language barriers to something that affects us all, where to save cash for the best returns.
Elsewhere, we were teaching hands on practical skills via Money Twist programmes to young people from Treviglas College, Heartlands High and Saltash in Cornwall. There were debt intervention and budgeting Money Works sessions at WILD Project Cornwall and young care leavers in Lambeth and Back my Business enterprise challenges at Bishop Challoner.
On top of that our money adviser has been giving free 1-2-1 Money Advice to young people at the Kipper Project, helping them to learn about taxes & reading payslips properly.
Tomorrow we help ring the opening bell at London’s Stock Exchange!