Money skills project benefits over 100,000 young people.

18 Aug 2014

The Barclays Money Skills ‘champions’ project has supported over 100,000 young people to build money management skills, knowledge and confidence and is continuing to do so with a legacy project focused on employability.

Launched in early 2012, the initiative run by a consortium of youth and information charities, led by the National Youth Agency empowered young people to educate others using a peer-to-peer learning approach. Practical topics explored as part of the programme included opening a bank account, understanding a bank statement and spending responsibly.

When the project ended in June 2014, 5,284 young people had increased their own financial capability and were up-skilled to share this vital information with 121,000 of their peers. Organisations associated with the ‘champions’ programme also recruited 238 youth organisations and trained 537 support workers to help build knowledge and peer-education skills of the young people they work with. Over 750 Barclays volunteers were also engaged to support the delivery of sessions on budgeting, saving, loans and credit.

Fiona Blacke, Chief Executive at the National Youth Agency said, “It is fantastic to see the project end on such a high. We were able to connect with some of the UK’s hardest to reach young people, which simply would not have been possible without the partnership’s support and expertise.”

“The project has made a real difference to thousands of young people’s lives. Our ‘champions’ are now not only better at managing their money, but have improved self-esteem that will hopefully give them the confidence to enter the world of work.”

Building on the success of the ‘champions’ programme, the National Youth Agency will continue to partner with Barclays to help the next generation achieve their ambitions as part of Barclays’ 5 Million Young Futures commitment.

In partnership with Barclays and The National Youth Agency, and delivered by charities Rathbone UK, Kinetic and UK Youth, Money Skills ‘champions’ will be taken on a development journey over a period of six months.

Young people will be trained as ‘champions’, delivering financial training and support to reach young people, aged 16 to 25 and not in employment, education or training, through peer-to-peer dialogue, reaching a further 500 beneficiaries. An additional 100 young people who are already ‘champions’ will receive employability skills training to help them secure a job and become financially independent.

A number of Money Skills workshops will also take place across the UK, providing youth workers with training on how to use Barclays Money Skills champions resources to ensure young people continue to benefit from the programme.

Kathleen Britain, head of UK Community Investment at Barclays, said, “We are delighted to partner with the National Youth Agency as part of our commitment to help five million young people, by 2015, develop the enterprise, employability and financial skills they need to achieve their goals.

“Projects that build financial inclusion and support young people in gaining employment will help ensure a brighter future for the next generation.”