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Dudley College students become masters at money management

Mar 05 2014

Students from Dudley College are being given the opportunity to improve their financial, enterprise and employability skills as part of Barclays Money Skills 'week', a money management programme for students at further education colleges across the UK.

The Money Skills Week launches at the college on Monday 10 March and aims to involve every 16 - 18 year old student.  Young people will be able to visit workshops run by Barclays' staff and financial advisors which will help them with personal finances, managing budgets, everyday banking, saving and spending and building financial skills for the future.

Lowell Williams, Principal of Dudley College said: "We're very excited to be bringing Barclays Money Skills to Dudley College. It's a great initiative that provides a fantastic opportunity for us to deliver money management activities to young people at a critical point in their lives, as they plan to move away from home or to get a job. The programme allows us to cover this in a way which is relevant and real.

Throughout the week there will be tutorial workshops run by Barclays' volunteers covering an introduction to everyday banking, careers at Barclays and keeping your money safe.

Students will also be participating in a range of fun activities during the week to get them thinking about their management of money.  These will include a money personality quiz, top tips, Deal or No Deal, savings over time (Budgeting), a shopping basket challenge, Dragons Den and Style on a Budget themed fashion show.

Tutors will also be running a range of sessions using some fantastic resources created and supplied by Barclays, themed around Minted or Skinted?, contracts and financial commitments, going to university, small sacrifices big rewards, dealing with debt, blockbusters and spot the difference. Barclays' volunteers will also be supporting tutors in the delivery of specialist sessions about starting a business.

Chris Hearn, Head of Education at Barclays, said: "Around the UK, young people are facing unprecedented social and financial challenges. We recognise that, through the Barclays Money Skills programme, our resources and knowledge as a business can help young people overcome those challenges and gain the skills they need to achieve independence and financial security. That is why we're pleased to once again be teaming up with the Skills Academy for the fourth year of Barclays Money Skills Week."

Barclays and the National Skills Academy for Financial Services have worked in partnership to develop a series of money related activities, which also touch on enterprise and employability, to provide students with the tools they need to stay in control of their finances and achieve their future goals. In 2013, over 150,000 students took part in interactive money management activities based on topics of interest to young people such as food and fashion.

Students that participated in 2013 demonstrated clear improvements in their money management skills, demonstrating an improved knowledge of financial terms and positive behavioural changes relating to saving, understanding the terms and conditions of financial products and their overall confidence in managing their money.

The fourth year of this successful programme aims to provide 160 colleges and 150,000 students nationwide with the resources and support to run a week of money management related activities in the Spring term of 2014.