Money for Life inspires a generation to make the most of their money. From empowering young people to feel confident and start talking openly about money to providing high-quality training and crucial support systems; Money for Life equips 16-25 year olds across the UK with the knowledge, life skills and provision needed to manage their money.
Through Money for Life, the young people you work with will gain: An improved understanding of the importance and relevance of good money management; An improved ability to manage their money better day-to-day; An increased confidence in managing money on a day to day basis, choosing and using financial products, and planning for the future; Practical budgeting skills to save for future purchases/ unexpected expenses.
The three-year programme is delivered by GMYN in partnership with Uk Youth, The Mix and is funded by Lloyds Banking Group. Alongside an online hub, 24/7 helpline and savings app, youth groups across the country are delivering Money Masterclasses to thousands of young people. The Money Masterclasses have been designed by UK Youth and are delivered by Money Champions (young peer educators supported by youth workers).
The Money Masterclass: An Overview
Module 1: You and Your MoneyYoung people are introduced to the course and some financial basics from reading a bank statement to understanding how tax works.
Module 2: Surviving ‘til Pay DayThis module is all about budgeting and making money go that little bit further. Young people will create step by step budgeting guide that includes identifying ways to save.
Module 3: Independence DayHere we explore all the costs involved in moving away from home, from paying bills to furnishing a property and getting the best value for money
Module 4: Your Money TalksThe training wraps up by looking at credit scores, what they are and what we can do to improve them.
Each module will also signpost young people to our online hub, MoneyForLife.org.uk, which contains online training, expert advice, forums and 24 hour support.
If you think you know of a group of young people (aged between 16 and 25,) who might benefit from taking a money masterclass, then contact GMYN now