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East Durham College Get Set to Take Part in Barclays Money Skills

Mon, 2002-04-08 01:00

Students from East Durham College are being given the opportunity to improve their financial skills, knowledge and confidence as part of Barclays Money Skills, a money management programme running throughout the spring term in further education colleges across the UK.

Barclays and the National Skills Academy for Financial Services are working in partnership to develop a week-long series of money related activities to provide students with the tools they need to stay in control of their budget. In 2012, over

100,000 students participated in interactive money management activities based on topics of interest to young people such as food, fashion and independent living.

Students that participated in 2012 demonstrated clear improvements in their money management skills, such improved budgeting skills and adapted their budgeting behaviour when prompted with a variety of financial scenarios.

The third year of this successful programme aims to provide 200 colleges nationwide with the resources and support to run a week of money management related activities between February and May 2013.

Suzanne Duncan, Principal at East Durham College, said: “We’re very excited to be bringing Barclays Money Skills to our college. It’s a great initiative that gets both our students and our teachers buzzing and provides a fantastic opportunity for us to deliver money management activities to young people at a critical point in their lives, as they are planning to move away from home or to get a job. This programme allows us to cover this in a way that feels relevant and real.”

Chris Hearn, Head of Education at Barclays, said: “Building on the success of the programme last year, we’re determined to help young people develop the skills they need in later life to manage money effectively. For young people living in the UK it has never been more important to learn these skills with the rising cost of university tuition and increased living costs. We are proud to be part of a scheme which gives young people the skills they need for a secure financial future”

Sylvia Perrins, CEO at the Skills Academy, said “We’re looking forward to delivering the programme again. Last year there were clear improvements in the students’ money management skills, with those participating in the intensive tutorial aspect of the project demonstrating strong budgeting skills. It’s incredibly important to equip students with these life skills because it will help them take charge of their future and develop their confidence.”

Barclays Money Skills in FE colleges is run in partnership with The National Skills Academy for Financial Services, alongside Scottish Colleges, Welsh Colleges and the Educational Guidance Service for Adults, in Northern Ireland.