Financial training programme gives youngsters tips on managing their money

Date published: 29 August 2010

Who says youngsters In Lancashire don’t not know how to manage their money and that they don’t know how to be savvy shoppers?

Young people in Lancashire who have recently attended Barclays Money Skills, an interactive financial capability programme, have proved the cynics among us wrong by demonstrating their money management skills and dispensing valuable advice.

The programme is based around the lives of six stereotypical characters. It was developed by West Yorkshire Trading Standards and is delivered in partnership with Barclays Bank plc.

Young people who attended Money Skills training sessions earlier this summer in North Lancashire developed some fantastic tips to share with consumers:

*Stay away from loan sharks
*Make sure you don’t spend more than you earn
*Don’t give your details to people you don’t know
*Keep a budget
*If you get a loan, make sure you can afford to pay it back and look for the lowest interest rate

Paul Noone, Lancashire’s Chief Trading Standards Officer said:

“By highlighting the lifestyles of fun characters, key messages about finance and money management are delivered in a way that’s amusing and entertaining, but more importantly, that don’t make anyone feel compromised into discussing their own personal or family finance issues.

"Teaching young people about how to avoid phishing scams and on-line fraud means they are better able to protect themselves in the future, particularly given the rise in internet shopping.”

Rachel Herbinson, Barclays Community Investment Manager for the North West Region, added:

“What makes this programme different from other resources is that it teaches key life skills such as team working, communication and leadership; all necessary in gaining employment in the future.

"The resource also helps young people understand scams and frauds such as phishing emails, and how to identify and avoid getting caught up in them. It empowers young people to protect themselves, whilst also ensuring they are well-informed for shopping around for the best deals.”

Barclays Money Skills is being delivered to housing associations, prisons, young offender’s institutions, children’s centres, local community groups and schools and colleges across the North of England. If you would like to get involved please contact the team by email moneyskills@wyjs.org.uk or phone 0113 344 1688