14 July, 2021
Most of us could benefit from tips on money management, with 39% of us feeling unconfident managing money. And while there’s lots of advice available for parents and teachers on talking to children about money and plenty of guidance for adults, but relatively little for the 16+ age group. Until now, that is.
NatWest MoneySense has helped teachers and parents teach money skills for 26 years, and the programme reaches over 1 million young people annually. Now it’s growing up, launching content for young adults taking their first steps towards financial independence. This links closely to the bank’s new purpose, which is to champion the potential of people, families and businesses. Learning, and particularly financial capability, plays a critical part in achieving this.
Last year, we worked with NatWest to explore young people’s attitudes to money and what they wanted in terms of help, and it’s great to see the results of that research inform the new resources. There’s information on the link between money and mental health (an area that lots of young people told us was really important to them and their friends), budgeting, saving, and making sense of your first payslip. And it’s designed to feel real and relatable, with video content and real-life money diaries, where young people share their money decisions on a daily basis.
We showed Poppy, our lovely intern, the video on payslips – her feedback? “I wish I’d watched this when I started working. I used to throw my payslips away. It took me three years to learn what National Insurance was and I could’ve learnt it in two minutes!”. So, if you have a teenager taking their first steps into the world of work, or just need a refresher yourself, head over to the MoneySense site.
By Claire Jost