In June 2012 Thornaby Academy took advantage of Five Lamp’s new partnership with social enterprise MyBnk to have a taster of the financial programmes being offered in the Tees Valley area.
70 Year 8 students all took part in short sessions looking at their choices for now and the future.
6 groups of year 8 students at Thornaby Academy took part in MyBnk’s financial workshop called Money Twist. Money Twist is designed with 11-16 year olds in mind and looks at their choices now and in the future when it comes to the world of finance.
- The Money Twist programme consists of three highly interactive and adaptive sessions building young people’s knowledge around basic finance and helping them engage with money:
- Story of Money: History and features of money; forms of payment; currency and exchange rates
- Managing Money: Budgeting; youth employment; minimum wage; needs and wants; saving
- Banking Money: Interest; accounts; ethical banking; flow of money connecting the learning from previous sessions.
Here’s what the Young people at Thornaby Academy said after participating in the workshops.
“I thought it was really good and I will save my money in the future” – Shannon
“I think it was great and want to know more about it for my future. Thank You MyBnk” – Josh
“I know why and how I should save my money more” – Jake
“I think it’s good to have lessons about saving and I was given a lot of information” – Yasir
MyBnk also measured the impact the workshops have on the young people and the results at Thornaby Academy shown that 92% of the 70 students felt more confident about dealing with money in the future; 94% now had the ability to differentiate between personal needs and wants; 80% now had the ability to cut back spending on a budget to make savings; 83% were confident in using a budget and 89% were confident in making money decisions.
Nina Geragusian, a Business and Enterprise teacher at Thornaby Academy said
“The Money Twist workshops were excellent, fun, interactive, used great resources and was relevant to student’s understanding and managing of personal finances”