More than 90,000 students at Further Education colleges will have the opportunity to build their financial knowledge, skills and confidence during Barclays Money Skills ‘weeks’, which are commencing this week 7th – 11th March across the UK.
Barclays and the c are working in partnership to deliver the learning week at 150 colleges and are seeking to strengthen students’ money management skills through an innovative programme of activities and events. More than 400 Barclays employees will be volunteering their time and expertise to help colleges with the planning and delivery of activities.
This initiative is designed to give students an awareness of money management issues and provide them with the tools they need to stay in control of their budget. Students will participate in entertaining and informative money management activities based on topics such as food, fashion, family and independent living.
Recent research commissioned by Barclays has highlighted that young adults face significant challenges when managing their money, at a time when they are likely to be entering financial independence and needing to stretch their constrained incomes to meet their day to day needs. More than a third (36 per cent) run out of money regularly, with a further 27 per cent of unemployed young people saying they are always running out of money.
Michelle Smith, Head of Consumer and Community Affairs at Barclays said: “We know from our research that young people face a particularly challenging set of circumstances, and need all the help they can get to manage their money effectively. By supporting young people to build their financial skills and confidence we are empowering them to reach their goals.”
Sylvia Perrins, CEO at the Skills Academy said: “Rising costs, lack of funds and the continued instability in the job market serves as a poignant reminder that the financial decisions students make are of utmost importance. Many young people are taking care of their finances for the first time – we hope that through our fun activities and learning sessions students will gain a better understanding of how to budget, save and manage debts and bills. This will guide them when making financial decisions which affect their future.”
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PRESS – For further information please contact:
Tania Vie Riba or Saira Khan (Broadgate Mainland) 020 7726 6111 or email nsafs@broadgatemainland.com
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