MyBnk is a UK charity that delivers expert-led financial education programmes to 5-25 year olds in schools and youth organisations
Like many in the sector we have been working hard to ensure no young person misses out on their financial education as a result of the pandemic.
Our latest work includes:
- Delivery – Offering a full range of virtual workshops for primary and secondary schools, colleges and young adults in vulnerable circumstances, such as leaving care. We plan to return to direct in-person delivery post-Easter. Details.
- Annual Report – Our new publication recounts a year of impact, challenges and innovation on the frontline. Document.
- Gender report – MyBnk have detected worrying early indicators of a gender-based financial capability gap. Analysis of 3,700 11-25 year olds taking part in our programmes found young UK females have less financial confidence and suffer more money related mental health issues than males. This capability gap is starker at school age but, with intervention, closes and later overtakes the abilities of males. Story.
- Children report – An independent study of our primary school age programmes proves early intervention can successfully target the executive functions behind money management i.e. habits, attitudes and behaviours. It also results in higher savings and rescued spending. Evaluators Substance examined data from 3,200 5-11 year olds taking part in the KickStart Money scheme, delivered MyBnk. Children from areas of high free school meals were found to have the lowest financial capability – after financial education they exceeded their more abled peers. Story.
- Home school – MyBnk’s free online money lessons now come with parent guides to help them support 7-11 year olds in setting positive money habits, like saving and mindful spending. Course.
- Referrals – We are looking for new referral partners for our youth homeless prevention scheme, The Money House. Free and based in real flats, and via Zoom, we use financial education to teach vulnerable young people on the pathway to social housing how to keep their first home. Based in the London borough of Haringey, City of Westminster, the Royal Borough of Greenwich and Newham. Run with the Berkeley and JP Morgan Chase Foundations, Pimco and L&Q. Programme.
Young voices
Discover how MyBnk are helping young adults across the UK take control of their finances:
- Care leaver Nyquesha, 24, spoke to Paul Lewis on BBC Radio 4’s Moneybox about how MyBnk helped her tackle £5,000 of debt. Story.
- Christine, a 21-year-old care experienced student, shares how our youth homelessness prevention scheme helped put her on the path to independence. Story.
Other stories, from our virtual programmes, show how money lessons are helping young adults plan for the future and avoid unnecessary debt. Visit our website for youth authored stories.
Next
MyBnk will soon publish an independent evaluation report on The Money House project. Early evidence suggests money lessons dramatically reduces the risks of eviction and debt whilst delivering a tangible return on investment for young people, local authorities and housing providers.
