In 2012, over 90 employees volunteered to step into the class room to work with year 10 students and help them start thinking about money in the real world. This year we took part in nine events helping 1,700 young people.
Volunteers work with the students in small groups. The sessions help increase confidence about the key financial demands they will face in the future and gives them a better understanding of how they can manage these financial demands. Highlights the importance of planning their finances, development of teamwork and presentation skills.
It has given us a valuable insight into the attitudes of the next generation to money and savings and helps us understand the next generation of future customers.
Since Money Money Money began in May 2010, 25 events have been delivered which L&G employees have volunteered with. This covers over 5,000 students.
A total of 309 individual employees have been involved with these events with 40 employees returning to deliver the sessions again in the subsequent years. Six employees have completed all three years.
So what did our employees say:
- “I thoroughly enjoyed the day and think that this is a good programme for the children. I think they learn a lot from it and it opens their eyes to the world!”
- “I thought the day was amazing, and would recommend it to anyone I work with for their own personal development, regardless of which area they wished to work, as briefing and feedback are part of our daily roles. I think personally I had some confidence issues, as it was such short notice that I came along (being told 10am the day before). Yet, still, I feel the feedback was great.”
- “I feel I got a lot from the day, not only in terms of feedback, but felt I helped to make a difference to young peoples’ futures with regards to helping to understand budgeting and finances. I would definitely get involved and recommend my colleagues to volunteer too. Thanks for the opportunity!”
What did the students say?
- “How much living independently as an adult actually costs and how you should never spend more than you earn.”
- “That there will be some certain money difficulties when I grow up but now I know ways to help this.”
- ”He knowledge of how to tackle real life financial situations with little difficulty and with help from my family.”
- “The importance of saving up as well as insurance, and identifying the difference between needs and wants. Also, you receive a lot less than what’s on the pay cheque as lots goes towards tax etc.”
- “Learning about the best way to deal with money and where to go for financial advice.”
- “I’ve learned about the problems I will face as I get older and who to turn to when I need advice and help with money.”
- “To borrow from a bank (bank loan), not a loan shark!”
- “That loan sharks and pay day loans are very bad ways to borrow cash and to learn to manage my money.”
- “Lessons about tax. Worked out how much will get taken away from monthly pay cheque.”
- “Taxes and how much I have to pay for every £1 I earn. About tax, National Insurance and pensions.”