Celebrating one year of our Financial Freedom Campaign
57% of young people say the cost of living is their biggest worry for the future and 29% of UK children are living in poverty. But despite this challenging economic situation, MyBnk research shows 2/5 of young adults are not financially literate and 61% of young adults can’t remember learning about money at school.
As the cost of living rose, in June 2022, MyBnk launched our Financial Freedom campaign to unapologetically tackle the taboo around money and help young people build confidence managing it. It focuses on the links between money and wellbeing and aims to reach 250,000 11-18 year olds with expert-led financial education. Since launching the campaign, MyBnk is on schedule to reach 27,850 young people directly and will reach more through partnership engagement activities.
To mark one year of the campaign, we held a panel event at Quilter’s London offices. Quilter has supported MyBnk since late 2016 and the Quilter Foundation now funds MyBnk programmes in London, the South-East and the Isle of Man to deliver financial education to young people.
The panel included Financial Advisor and TV personality Emmanuel Asuquo, Financial Times’ Claer Barrett, MyBnk CEO Leon Ward, Quilter’s Amanda Cassidy and Lowell’s Eva Eisenschimmel.
The discussion was chaired by MyBnk’s Claire Quigley and focused on how to tackle taboos around money and change the financial literacy narrative. This includes empowering young people to be more informed about money and the financial decisions that will impact them in the future.
Leon Ward, CEO, MyBnk: “It’s clear that money is still a challenging topic and financial education is also something that many young people are still missing out on. But in the context of the current economic crisis, giving young people the confidence and skills to take control of their finances and have open conversations about it is more important than ever.
We’re proud to celebrate one year of our financial freedom campaign, allowing more 11-18 year olds across the UK to make informed money choices and build positive financial futures”.
A big thank you to all attendees and panellists. We’re excited to see how the insights and knowledge from the discussion can help change the financial literacy narrative.