Learn Money Week Day 2 – Launch Event, S. Africa, Vulnerable Young People & 1-2-1 Advice

Written by , March 11, 2014

  We reached 5,500 young people worldwide today with direct, fun, relavent and engaging financial education...


We reached 5,500 young people worldwide today with direct, fun, relavent and engaging financial education projects!

Monday night saw the official launch of Learn Money Week in London with games and debates that brought money lessons to life as 100 people from charities, trusts, foundations and the world of finance gathered. The crowd made their own Learn Money Promises including Lord Hutton’s vow to ‘talk to his children about saving up for retirement’ and cutting back on spending. We were also treated to money emotion in the forms of raps and poems by MyBnk’s education officers – videos coming soon!

Central to the night was bringing together providers, funders, supporters and young people. An expert panel including teenage banker Benedict Mavila, discussed Financial Literacy: How do we bring it all together?

Young people from St Martins-in-the-Field High School for Girls touched on engagement. “Make education sexy!” was financial journalist, Iona Bain’s response – MyBnk CEO Lily Lapenna explained how we co-create programmes via our Youth Advisory Panel. Other issues addressed media, peer pressure, role models and parenting, all of which help form young people’s money habits and attitudes. Jackie Oatway, Head of Policy at the Money Advice Service, helped give the audience an overview of the wider UK financial education strategy. Robert Gardner CEO of Redington Pensions spoke about his CSR model that brings financial education and young people into the office through their RedStart project.

There was also a chance to get a sneaky peek at some of the knockout entries in the A to Z of Money Competition! Check the base of this piece.

“I spend all of my money but since having the MyBnk workshop, I’ve decided I’m always going to leave £1 of my money at home as savings. I’ve learnt a lot of new skills today such as how to make money and how to spot fake notes. I think teaching this to young people is important because young people are often targeted and I’ve enjoyed the session, it’s been fun.” Lathujan, 12, Preston Manor high School. 

Back on the frontlines, 1,000 youths took on saving and self investment in Scholastica School, Dhaka, with Bangladesh’s Sabirul Islam, Founder of Inspire1Million organisation. Save the Children’s YouthSave project continued to help 3,600 youths via banking workshops, essay competitions on saving and policy roundtables with government ministers and young people in Ghana, Columbia and Kenya.

Other innovative projects like the USA’s Operation Hope and their Banking on our Future workshop, helped vulnerable young people at a residential child care unit in Denver, 125 youths in Baltimore’s Poly Institute and Factreton Primary School in Cape Town, South Africa take control of their money by learning about empowerment and responsibility.

MyBnk were also helping vulnerable youths understand the origins of capital and how it flows between institutions by discovering the history and features of money, forms of payment and currency & exchange rates at Redbridge Looked After Children Unit.  240 pupils at Preston Manor High, Wembley went further with the Money Twist project and examined budgeting, youth employment, minimum wage, needs and wants, risk and saving. Our experts where also on hand at City & Islington College using a Business Battle drawing board to market enterprise challenge to apply practical learning to financial education. Youths at the 198 Gallery and crime prevention charity Nacro had the chance to detoxify their relationship with money in Money Works sessions. Young people at Hornsey YMCA addressed arrears and prioritised bills in seven 45 minute 1-2-1 Money Advice Service sessions. Still in the UK, AXA Insurance continued their partnership with Redstart to give young people at Upton Park School lessons in budgeting, assets and wealth, liabilities, risk and Dragons Den style enterprise challenges.

More tomorrow!




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