We want to scale our production of digital content to include financial education tips. These would be delivered via podcasts and social media platforms that are popular with youth. Our goal is to teach young people how to make the most of money, reduce their well reported anxiety about coping in the future and gain confidence as they become more independent or leave home.
We regularly run financial literacy workshops for young people in partnership with schools and youth groups. At these sessions, we ask young people for ideas on how best to support them to manage their finances well. This idea came out of a session held in the summer of 2019 with young undergraduates. They unanimously admitted to feeling quite anxious about their mounting debts and inadequate to cope well with their finances at university.
These bitesized tips will increase their knowledge of the value and uses of money, macroeconomics, investments, savings and entrepreneurship, in a creative and relevant way. It will also help to lay a foundation for a more financially secure future, inspire choices for better stewardship as well as improve their overall wellbeing and contribution to society.
Scaling our production capabilities of digital content will allow us to extend the reach and impact of our financial literacy workshops, embed the learning deeper and make it more easily accessible to those who need it the most.
Featured content includes:
- The uses of money
- How to start a business
- How the economy works
- Practical ways to save
- The ins and outs of credit ratings
- Investment options for limited funds
- Good debt vs bad debt
- And much more
One of our key values is based on our firmly held belief that young people should be allowed to participate in issues and services which directly affect them. We have seen that this engenders change as well as encourages peer recruitment and participation. As with all our other youth focused initiatives, this project will recruit, encourage and support young people to be engaged with the development of this resource from start to finish. Mentors and coaches will work with them at each stage, helping them to contribute their thoughts and ideas to the planning process. This adds unique and fresh perspectives, ensures that it caters to their needs and works towards ensuring that the co-agreed outcomes are met.
Furthermore, involving the young people enables effective delivery to their peers and communities through relevant youth language, social media, word of mouth, blogging and more. We know from experience that an invitation is likely to be much more readily accepted by a young person if the invitation is sent by a peer or friend.
We expect to reach at least 7,500 young people through various channels within the first year of releasing the podcast and other content.