14th May 2024
This Mental Health Awareness Week, let's empower young people with a key life skill: financial literacy! Imagine feeling in control, excited, and capable when it comes to money. Financial literacy unlocks that world, and the best part? We can ditch the lectures and make it fun!
Here's why teaching young people about finances is a win-win for their mental wellbeing and future:
1. Building Financial Resilience: Money worries are a major source of stress for young adults. Equipping them with financial knowledge empowers them to tackle challenges like student loans, budgeting for rent, and long-term goals. They can navigate financial realities with confidence, not crippling anxiety.
2. Investing in Life Skills: Financial literacy goes beyond numbers. It hones valuable skills like goal setting – for that dream vacation or first home. It teaches delayed gratification – for a bigger financial reward down the line. And most importantly, it fosters responsible decision-making – about credit cards, loans, and major purchases. These skills translate into all areas of life, leading to greater financial security and overall wellbeing.
3. Transforming Financial Literacy into an Interactive Experience: Forget dry lectures! Interactive workshops can revolutionise how young adults learn about money. Imagine budgeting simulations that mirror real-life scenarios, group discussions on hot financial topics like investing or navigating credit scores, or even role-playing exercises on negotiating salaries or managing unexpected expenses. These engaging workshops foster a collaborative learning environment, allowing young adults to ask questions, share experiences, and build a strong foundation for financial success.
How can we make financial literacy a fun adventure for young people?
Skipton Business Finance has proudly partnered with WizeUp Financial Education, a charity dedicated to providing financial literacy to young people throughout England. We believe it is so important to educate young people on finances needed for daily life as they grow up. Through fundraising, we are helping WizeUp deliver financial literacy courses to schools in England – something we believe is essential.
Michael Flack, CEO at WizeUp Financial Education, said:
“WizeUp Financial Education recognise the uncertainty and stress that personal finances can bring. Thanks to our partnership with Skipton Business Finance, along with many other organisations around England, we have been able to give face to face deliveries to those who we believe need financial education the most. These can be students within Post 16 mainstream education, along with those with Special Educational Needs or who have been excluded outside of the traditional educational setting.”
“With the support we receive, WizeUp can go beyond traditional classroom methods and adapt each session to the school’s individual needs. This leads to greater engagement, gives the students the platform to ask the questions they wish to ask and, most importantly, give them the confidence and resilience to make positive financial decisions. We look forward to supporting Mental Health Awareness Week, alongside Skipton Business Finance.”
By making financial literacy an engaging adventure, we're not just teaching young people about money. We're investing in their mental wellbeing and setting them up for a brighter future. This Mental Health Awareness Week, let's give them the financial keys and watch them unlock their full potential!
You can find out more about WizeUp and the amazing work they do here.
Find out more about our partnership with WizeUp here.