MyBnk’s financial education experts and Old Mutual International volunteers will deliver award-winning programmes to over 600 Year 12 and 13 secondary school students. The Isle of Man Government-backed initiative will teach 16-18 year olds how to budget, bank and borrow, understand taxes, tuition fees and employment rights, and prepare for the cost of university and independent living.
Pupils taking part in MyBnk’s Money Twist and Uni Dosh workshops will also be awarded prizes as part of the Department of Education and Children commitment to developing the 6Rs learning dispositions which form part of the ‘Essentials for Learning’ framework.
Guy Rigden, MyBnk CEO, said: “Young people here face unique challenges and bad budgeting* has been identified as the main debt trigger for Islanders. Managing money well opens up new opportunities and helps us make informed decisions - MyBnk and Old Mutual International are thrilled to be bringing money to life and helping young people prepare for the future.”
Peter Kenny, Managing Director, Old Mutual International, comments: “As the largest life assurance company on the Island, we understand the importance of providing the generations of tomorrow with the skills and confidence to manage finances early in life. We are delighted to support MyBnk expand their services in a local community where we are a major employer. Learning how to use credit effectively, tackle debt or make wise spending decisions will help the students to live more prosperous lives.”
Graham Cregeen, MHK, Minister for Education and Children, said: “Whether heading into higher education or into the workplace, our students rapidly need to get used to handling their own finances, budgeting, completing tax returns etc. The ‘Money Skills for Schools’ programmes will offer age-appropriate, practical advice on the complexities of these areas. It will greatly complement work we do with other organisations to create financially savvy students.”
Media are invited to attend the launch of ‘Money Skills for Schools’ Week at Ballakermeen High School on Monday 6th February, 10.25am to 11am. Graham Cregeen MHK, Minister for Education and Children, will attend and there will be the opportunity to interview students. Please advise firstname.lastname@example.org by Friday 3rd February if you plan to attend.
As well as the Ballakermeen session, other school deliveries taking place during the week include: St Ninian’s and Queen Elizabeth II High Schools as well as Ramsey Grammar School and University College Isle of Man. For further information or to attend a session in action, please contact Jo Overty at jo.overty@ gov.im or directly at 686080 or Wendy Ranft-Gerber at Wendy.Ranft-Gerber@ominternational.com or directly at 407545.
Experts from MyBnk and Old Mutual International will also be available for interview throughout the week.
*Source: ‘Isle of Man in Numbers’ report.
Notes to Editors:
The charity MyBnk is the UK’s leading designer and deliverer of financial and enterprise education programmes for young people. Its experts bring a range of workshops covering topics such as budgeting, tax, debt intervention, university finance and social enterprise to 11-25 year olds in schools and youth organisations. They have helped over 160,000 young people manage their money and start their own business with 750 partner organisations. MyBnk also designs projects and training programmes for other organisations. MyBnk is the recipient of The Guardian Charity Award, Children & Young People Now Leaving Care Award and the Centre for Social Justice’s Poverty Prevention Award. Its projects are proven and evaluated by the national Money Advice Service.
Old Mutual International Isle of Man
Old Mutual International Isle of Man is a leading cross-border provider of financial solutions for local and expatriate investors. The business employs over 400 people in Onchan, Isle of Man, providing
operational support to Old Mutual International clients in the UK, Europe, Singapore, Hong Kong, Dubai, Latin America and South Africa.
The business is proud of its strong heritage on the Isle of Man having been established over 30 years ago. Old Mutual International Isle of Man is committed to investing in its local community, helping to make a difference to island based charities and organisations through charitable partnerships.
About the 6Rs and Essentials for Learning
The 6Rs, namely Readiness, Remembering, Resilience, Resourcefulness, Relationships and Reflectiveness form part of the Department of Educations’ ‘Essentials for Learning’ framework. Within education on the Island there is a commitment to developing these learning dispositions within our young people from age 5 through to 18 and beyond to form just one part of an individuals’ lifelong learning journey.
As part of our commitment to financial education, Old Mutual Wealth is sponsoring the 2017 Moneywise Personal Finance Teacher of the Year competition. The competition is open to UK and IoM schools and more information can be found by visiting: http://www.moneywise.co.uk/news/2016-12-12/win-5000-your-school-our-2017-personal-finance-teacher-the-year-competition
This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.