Linking financial education and social justice
This/last week, MyBnk held a panel discussion in Edinburgh with corporate partner abrdn. This focused on the links between financial education and social justice and how we can work together to create a fairer financial future for the next generation in Scotland.
The panel included Scottish Financial Enterprise’s Sandy Begbie CBE, abrdn’s Gemma Jones, MyBnk’s Adam Dickson, Hymans Robertson Foundation’s Marcella Boyle. It was hosted by our Business and Engagement director Claire Quigley and opened and closed by MyBnk CEO Leon Ward.
MyBnk’s work in Scotland
MyBnk has worked in Scotland for 4 years and will have delivered 3,000 hours of programmes reaching 4,800 young people by September 2023. However, more must be done to improve the financial futures of the nation’s young people.
Research indicates that only 54% of Scottish people save regularly and only 15% borrow to pay for food or bills. The Prince’s Trust NatWest Youth Index 2023, based on YouGov research, found that 51% of young people in Scotland think the cost-of-living will have a worse impact on their life than the pandemic did.
Partnering with abrdn
Our partnership with abrdn is helping us reach more of Scotland’s young people with impactful, expert-led financial education. The funding is supporting two core young adult programmes that will reach up to 10,000 young people across the UK, including in Scotland.
The partnership also covers a thought leadership piece on the link between confidence and financial outcomes and choices. It also involves one White Paper per academic year throughout the 3-year partnership.
A big thank you to all attendees and panellists. We’re excited to see how the insights and knowledge from the discussion can transform into real life actions to support the financial futures of young people in Scotland.