Mybnk have developed their programmes over many years and include feedback from young people as well as input from their youth advisory panel. Before coming in to deliver the sessions, they called the academy to find out more about the students’ backgrounds and circumstances, as well as their ability levels and what they have done around money management before.
The trainers then tailored the project to meet the needs of the students. For example, for year 7 students it was important to focus on the concept of money before delving in to how to manage it. Year 8 students then handled more complex topics around personal finance (such as budgeting).
The project aimed to improve student’s knowledge, skills and confidence to manage their money more effectively. Mybnk conducted a base and end line questionnaire before and after each session. This was used to gauge the participants’ financial knowledge, confidence and behaviour towards saving. Mybnk then used this information to produce an outcomes report.
Laura Van Huyssteen said: “The project was delivered during our PSHCE days – which are ‘drop down’ days where normal school lessons are suspended for the day and then an individualised programme for each year group is planned and delivered.”
An example of the activities used during the project was the session on the ‘Story of Money’. This involved students retelling the history of money in a comic strip format. Students also explored the security features of money by playing detectives with real bank notes. Armed with UV lights and magnifying glasses they identified security features on notes.
All the students who took part gained a better understanding of financial matters and enterprise. The students also now display a better understanding of the related concepts to personal finance.
“Learning the worth of money and ways to earn it have made our students and school appreciate things better. The general feeling of: if you work hard – you will reap the rewards, has started to disseminate through the school, especially with the younger students.
“Being aware of financial and enterprising issues has allowed students, especially in their own home environments, to be aware of ‘worth’, of what their parents are spending and the different ways to make money,” commented Laura.
Due to the success of this project, further Money Twist programmes have been commissioned for students in years 7-13. The partnership with Mybnk has grown as the academy prepare sixth form students for managing their money at university. This will see them take part in the ‘Uni Dosh’ programme.
Laura added: “Empowering students with knowledge about finance and enterprise can only influence the work around them as they will not take things for granted and will start to develop a healthier attitude towards money and work.”