Format
2 X 4.5 hours or 4 X 2.25 hours
Target Group
16-25 year olds moving into independent living
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:
- Budgeting and Household Costs: Attitudes towards money, needs & wants, cutting back, budgeting, steps after move in, reading bills, household costs.
- Your Income: Sources of income, wage slips, tax & NI, benefits, universal credit and sanctions.
- Banking and Being Informed: How banks work, savings and current accounts, interest, forms of payment, choosing an account, understanding contracts, understanding tenancy agreements.
- Borrowing and Scams: Forms of borrowing, credit history, debt consequences & prioritisation, staying safe with money, understanding what money muling is.
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
Education Team
"Tell me and I forget, teach me and I may remember, involve me and I learn."
Money doesn’t grow on trees but if it did you’d plant the seeds
Money is the root of all evil
Money can’t buy manners
"I want young people to understand things like APR as much as they understand LOL".
"If money go before, all ways do lie open" (Shakespeare)
"If you want to feel rich, just count the things you have that money can't buy."
"There are people who have money and people who are rich". [Coco Chanel]
“Don’t just make money, make a difference”.
"The more you LEARN the more you EARN".
"Take care of the pennies and the pounds take care of themselves!"
"Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you”. [Maya Angelou]
"MyBnk is more than just a job. It's a lifestyle!"
"A wise man once said the best thing money can buy is financial freedom".
“Spend your money on the things money can buy. Spend your time on the things money can’t buy.” - Haruki Murakami
Facilitation Team
"If you want to be wealthy, think of saving as well as getting".
"If money is the sea, learn to ride the waves".
“Money is numbers and numbers never end. If it takes money to be happy, your search for happiness will never end.” Bob Marley
