Key facts:

Format: 2 x 4 hours or 4 x 2 hours.

Target group: 16-25 year olds moving into independent living.

Group size: 6-15 young people.

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.

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

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, sharing, swapping & selling, staying safe online, digital footprints, checking credit scores and online banking and payments.

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.

EduKit Connect

Find the right support for students

MyBnk- Money Works

MyBnk- Money Works

Login