More than 600 students at Stratford-upon-Avon College will build their financial knowledge, skills and confidence during Barclays Money Skills ‘week’ from 21st – 25th March 2011.
This initiative is designed to give students an awareness of money management issues and provide them with the tools they need to stay in control of their budget. Students will participate in entertaining and informative money management activities based on topics such as food, fashion, family and independent living.
Barclays and the National Skills Academy for Financial Services are working in partnership to deliver the learning week across the UK and are seeking to strengthen the money management skills of over 90,000 students across 150 FE colleges nationwide. Barclays’ employees will be volunteering their time and expertise to help colleges with the planning and delivery of activities.
Recent research commissioned by Barclays has highlighted that young adults face significant challenges when managing their money, at a time when they are likely to be entering financial independence and needing to stretch their constrained incomes to meet their day to day needs. More than a third (36 per cent) run out of money regularly, with a further 27 per cent of unemployed young people saying they are always running out of money.
Michelle Smith, Head of Consumer and Community Affairs at Barclays, “We know from our research that young people face a particularly challenging set of circumstances, and need all the help they can get to manage their money effectively. We’re investing £15m over three years in projects such as Barclays Money Skills ‘weeks’ and are working to support one million people to build their financial skills, knowledge and confidence.”
Hazel Skwirzynska, Vice Principal Corporate Services, said: “During Barclays Money Skills ‘week’ we will cover topics such as budgeting, saving and spending; and offers practical guidance on what to do when something goes wrong. Making good financial decisions is an essential life skill, and by building students’ financial skills we are empowering them to reach their goals.”
Sylvia Perrins, CEO at the Skills Academy said “Rising costs, lack of funds and the continued instability in the job market serves as a poignant reminder that the financial decisions students make are of utmost importance. Through our fun activities and learning sessions we hope that students will gain a better understanding of budgeting and an increased awareness of financial issues and products. This will guide them when making financial decisions which affect their future.”
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About the National Skills Academy for Financial Services
The National Skills Academy for Financial Services is a unique independent employer-led charitable organisation dedicated to growing talent and building professionalism in the UK financial services industry. Its goal is to support future, emerging and existing talent and to ensure the financial services industry is productive and efficient to compete in global markets.
The Skills Academy provides a diverse range of business and talent development support – and all tailor-made for the industry’s needs. Its educational programmes can be accessed in-house, online and locally through the Skills Academy Training Provider Partner Network. As a registered charity, its aim is to provide value-added and cost-effective programmes. Income generated is re-invested in innovative schemes to further support the industry and development of its people across many business areas. For more information, please visit: www.nsafs.co.uk.
Barclays is a major global financial services provider engaged in retail banking, credit cards, corporate and investment banking and wealth management with an extensive international presence in Europe, the Americas, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs nearly 147,000 people. Barclays moves, lends, invests and protects money for 48 million customers and clients worldwide. For further information about Barclays, please visit our website
About Barclays Money Skills
Barclays Money Skills Barclays is a practical money management programme designed to build the financial skills of 16 – 25 year olds and other vulnerable groups across the UK. Barclays is working in partnership with respected and experienced charities to deliver the programme to young adults and a range of other vulnerable groups including returning servicemen and women, those at risk of homelessness, ex-offenders and older people. For further information about Barclays Money Skills visit www.barclaysmoneyskills.com.
Posted on Wednesday 9th March 2011