Format: 3x2 hour weekly sessions. Can also be delivered over two sessions or in one day

Target group: Young adults aged 16-25 moving into independent living. Groups we have worked with include NEET youth groups, supported housing residents, young people Leaving Care and young parents

Group size: 6-15 young adults

To book or to find out more about this programme please call us on 020 7377 8770 or email info@mybnk.org

Content

Session 1: Attitudes towards money, Goals and financial control, Current and saving accounts, Forms of payment

Session 2: Making the most of your money, Income and expenditure, Wage slips, Tax and National Insurance, Needs vs. wants, Budgeting

Session 3: Borrowing and types of credit, Interest, Credit history, Consequences of and prioritising debt, Actions and wrap up

Money Works imparts knowledge in a simple and succinct manner, framing it in a way that is relevant to participants’ lives. It then inspires them to translate this into personal actions - steps they can take to become more in control of their money, and ultimately improve their financial situation. 

Money Works is tailored specifically to the target group and focuses on survival money management skills. Together we identify their financial stress triggers, confronting doubts and misconceptions and bad habits around money – ultimately breaking down the barriers to independent living and support those trapped in debt or struggling with costs.

The Money Works sessions also act as a forum for questions and discussion for the learners.  It offers them an often much needed arena to clear up any money misconceptions, explore money issues affecting them, and get information they may have been unable to obtain elsewhere.

Case Study

Youth engagement charity Rathbone and Hackney Council ran a Money Works for a dozen 16-20 year-olds not in employment, education or training. Trishauna, 16, said:

"I enjoyed learning about how not to get into debt. Something I want to start doing now is making my own money; I will always save my money."

Accreditation

The Money Works programme can count towards a range of accredited life skills, money management and employability certificates. It aligns with a number of ASDAN and AQA Unit awards including:

- Budgeting & Debt Management
- Introduction to Managing own Money
- Money Management for Living Independently

We will assist AQA / ASDAN registered centres to accredit their participants, or MyBnk can arrange AQA awards at an extra cost of £25 per participant.  Wecan also offer participants of the Money Works programme a certificate that they can carry into their working life.