Things got loud on Day 4 of Learn Money Week as we helped unleash the London Stock Exchange and ring the opening bell this morning – reaching 8,000 young people on the penultimate day.
We were joined by teenage bankers from Westminster Academy and LSE CEO Alexander Justham who praised the “inspirational” LMW and Global Money Week initiatives, the Executive Director of the Money Advice Service Mark Fiander and the founder of Children and Youth Finance International, Jeroo Billimoria. The students run their own in-school, online, micro-finance scheme and have hundreds of fellow pupils saving real money every week.
Two of those banks also took center stage today as young bankers threw open the doors of Forest Gate Community School and St Martins-in-the-Field and got scores of fellow pupils to save up to £200 in just a single lunch-break.
In the USA and South Africa, Operation Hope delivered their Banking on our Future workshop, helping hundreds of youths in High Schools and youth groups in LA, Washington DC, Philadelphia, Colorado, Baltimore, California and Johannesburg take control of their money by learning about empowerment and responsibility.
“It was interesting finding out the actual numbers for things such as the tax brackets. I think it’s important for young people to learn this because it’s important to manage finance, it’s something always happening in the world. I’ve enjoyed this, it’s been engaging.” Vincent, 18, London Academy of Excellence.
Our experts where also on hand to help 700 11-14 year olds at Crown Woods College, London Academy of Excellence and Ashcroft College 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. The Money Twist project also examines budgeting, youth employment, minimum wage, needs and wants, risk and saving.
Enterprise also played an important part in bringing money discipline to youths, with young people assessing fellow pupils loan applications, paying close attention to how they costed out their business plans at Bishop Chandler Secondary School. Business Battlers at City & Islington College ramped up their enterprise projects ahead of selling at Camden Market this Saturday. Young teens at Elm Green School have been wrestling with the pounds and pence as they sell ethical products into their community via the social Enterprise-in-a-Box project.
2,500 youths took on budgeting, saving and investments at Shahjalal University and Jalalabab College 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.
The National Skills Academy brought Barclays Money Skills weeks to 23 schools and colleges across England to help youths manage their money, reduce financial stress and increase their chances of achieving their financial goals. They were also training staff from housing associations and credit unions in money management programmes through the Lloyds Money For Life programme.
Youths at Hertfordishire Youth Services and Dropzone had the chance to detoxify their relationship with money in Money Works sessions with MyBnk and the Cumbria Youth Alliance. Young tenants at Gateway Housing 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.
Be Better and Citi Bank China helped youths tackle saving and consuming, continuing their events for youths between ages 10-17 years participating in exciting activities such as team survival games on financial topics, bank visits, workshops on money matters and social topics and more.
Tomorrow, Portugal and Portland!