Format
2 X 4.5 hours or 4 X 2.25 hours
Target Group
16-25 year olds in transitional phases of their lives
Group Size
6-15 young people
Content
Money Works is a financial and digital skills programme for young adults moving into independent living to confront their money worries.
Sessions cover:
- Income: Sources of income, employment and self-employment & rights when working
- Deductions: Reading a payslip, taxes, National Insurance, student loans & pensions
- Spending: Household costs, comparing products, ways to pay and bank statements
- Budgeting: Needs & wants, planning a budgets & making adjustments
- Bank Accounts: How banks work, savings and current accounts & choosing accounts
- Borrowing: Credit Scores, forms of borrowing & where to get help with debt
Young adults living on their own, or about to, are often in need of survival money management skills and actions they can implement immediately.
Money Works has a strong focus on embedding digital skills. This includes; increasing the access, use, skills, confidence and motivation of young people using digital tools to manage their money, make financial decisions and plan for their future.
Other topics cover: finding information, shopping around, accessing financial services and benefits, managing money, staying safe online, digital footprints, checking credit scores, online banking and payments, staying safe from scams and understanding what money muling is.
Combining digital literacy with money management is a powerful and liberating prospect for those who find themselves waiting on payday or punished by late fees.
Accreditation
Money Works maps into a range of accredited life skills, money management and employability certificates. Young people attending the full programme can also qualify for a Level 1 Personal Money Management accreditation – and in Scotland, Money Works is credit rated by the SQA at Level 4.
Winner of the Children & Young People Now Leaving Care Award.
A virtual version is also available. Independently evaluated by the Money Advice Service’s ‘What Works Fund’.
MyBnk Cancellation Policy: Cancellations and changes made to scheduled deliveries incur costs to MyBnk. Any changes made less than two weeks in advance will result in a £100 or, if less than three working days, £250 charge per MyBnk trainer. Full Terms & Conditions here.
Case Studies
From opening a first bank account and trading in real markets, to moving out of care and into independent living, MyBnk’s financial education workshops pack a BIG punch!
"It makes maths real!" Improving teens numeracy skills by understanding investment
“My Mind Has Been Blown!" - Shannon, 8, opens her first bank account and starts her savings journey
"Learning to live independently taught me I had worth" Leaving care and dodging bankruptcy
Impact After This Programme
60
Drop in average debts
23
Increase in regular saving
28
Increase in life satisfaction
