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MP joins students in financial education masterclass

17/10/2016

Caroline Nokes MP has urged local teachers and youth groups to take advantage of free money skills programmes for young people in a visit to Mountbatten Secondary School.

The Romsey and Southampton North MP joined Year 11 students taking part in an award-winning education programme that teaches young people how to manage their money.

Since April, nearly a thousand 11-25 year olds have learnt how to budget, bank and borrow thanks to workshops by the charity MyBnk and supported by local-employers, Old Mutual Wealth.

The Department for Work & Pensions Minister joined a series of sessions as children tackled topics including budgeting, investments, and income and expenditure.

The Hampshire region is one of the UK’s most indebted areas, adding £359m to the nation's £1.45 trillion debt mountain. Its wards are also ranked within the most deprived 20% in the country.

Spending demotivators, decoding payslips and risk management were some of the activities included in the Money Twist programme. The government’s Money Advice Service has given MyBnk’s project for young people the UK’s highest effectiveness rating.

Before the school year is out, all 1,400 students at The Mountbatten School will have taken part in a MyBnk workshop. The sessions are available for all secondary schools and youth organisations in the Hampshire region.

Caroline Nokes MP for Romsey and Southampton North:

"The MyBnk and Old Mutual Wealth collaboration to bring financial education to local schools is a fantastic initiative and it was a pleasure to see it being delivered at The Mountbatten School.  I urge schools and youth organisations across the South Coast to take advantage of this free and crucial project. Learning about money is a vital life skill, and I’ve seen first-hand how young people positively respond to this message."

Heather McIlroy, Executive Headteacher, Mountbatten School:

"It's important that all young people understand finance and, from an early age, know how to manage money and get it to work for them. Thanks to MyBnk and Old Mutual Wealth, every one of our pupils will have a head start on managing their money."

Guy Rigden, CEO, MyBnk:

“Managing money well opens up new opportunities and when it comes to debt, prevention is always cheaper than the cure. It was a pleasure to show our local MP how we are bringing money to life for young people in Southampton schools. In our first year we have helped nearly 1,000 young people learn to budget, bank and save. We have the programmes and the experts, join us!"

Jane GoodlandJane Goodland, Responsible Business Director, Old Mutual Wealth:

“Our work with MyBnk in local schools is helping ensure young people make wise spending decisions so they can live more prosperous lives. Caroline has seen how collaboration between grassroots charities and local employers can make a powerful impact on the frontline. We want to show more young people how they can master money - teachers, youth workers, please get in touch."

 

About MyBnk

MyBnk is the UK’s leading trainer, designer and direct deliverer of financial and enterprise education programmes for young people.

Its experts bring a range of 100 minutes workshops covering topics such as saving, tax, budgeting and university finance, to 11-25 year olds in schools and youth organisations.

Programmes are created by its in-house team and young people. Education Officers are rigorously trained and are assessed by young people and teachers after every session.

 

For more information on the MyBnk/Old Mutual Wealth project, please contact declan@mybnk.org

 

 

For more information contact

Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076tim.skelton-smith@omwealth.com

Notes to Editors:

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Old Mutual Wealth oversees £131.3 billion in customer investments (as at 30 September 2017).

It has an adviser and customer offering spanning: Financial advice; investment platforms; multi-asset and single strategy investment solutions; and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Old Mutual Wealth’s multi-asset investment solutions business.

Old Mutual Global Investors (‘OMGI’) is the asset management business of Old Mutual Wealth with £39.8bn funds under management (as at 30 September 2017). On the 19th December 2017, Old Mutual Wealth announced that it has agreed to sell its Single Strategy asset management business to the Single Strategy Management team and funds managed by TA Associates. The proposed transaction is subject to customary closing conditions, including regulatory approvals. 

Following managed separation from Old Mutual plc, Old Mutual Wealth will rebrand to Quilter plc. Each of the businesses within the Quilter Plc group will be rebranded over a two-year period, with the exception of Quilter Cheviot, which will retain its existing name.

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million (as at 31 December 2016) customers across the world and has a total of £212.3 billion of assets under management (as at 30 June 2017).

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