1 February 2012

Money Management: a skill that’s on its way to Wales’ young people

What do these have in common... a credit union officer, a council’s debt and benefit advisor, an ex-offenders’ support worker, a trading standards’ consumer education officer, plus work-based learning providers and colleges’ learner services departments? They are all very keenly aware that many young people need better money management skills to help them through life and enable them to reach their potential. The answer, in part, is ‘Teach Others’.

ColegauCymru is nearly half way through its aim of preparing 100 trainers to develop the money management skills of thousands of 16-24 year olds across Wales from all walks of life.

‘Teach Others’ is a two-day course, funded by Lloyds Banking Group’s Money for Life programme, which is available to further education (FE) practitioners, youth and community workers across the UK.  It enables those who are not qualified teachers – such as community or advice workers – to plan and facilitate financial capability sessions and workshops. ‘Teach Others’ is part of the UK-wide Money for Life programme, led in Wales by ColegauCymru in partnership with the National Training Federation for Wales.

The Teach Others course includes highly focused, practical sessions on teaching skills, as well as up-to-date knowledge and resources that are relevant to developing the money management skills of young people. 

ColegauCymru’s Julia Owens, the Money for Life manager in Wales, said: “Some of the personal stories I hear from young people about where their lack of money management skills has led them are truly worrying.  Thousands of young people across Wales are in real need of improving their money management skills and I feel privileged to be able to play a small part in addressing such a serious issue.”

Cheryll Morgan from Neath Port Talbot College said: “On the road to independence, young people have grand dreams and are in a rush to buy a car and splash out on a holiday with friends.  It’s so important to help them develop their money management skills early on, before they spend what they can’t afford and blight their lives as a consequence.”

Helen Griffiths, Student Financial Support Officer at Yale College Wrexham said of the course: “The Teach Others course was very hands-on and interactive. It was a great foundation for non-teaching staff.  I’ve gained a lot of confidence through the course and I’m looking forward to putting my new-found knowledge into practice with the learners at the college.”
------------------------------------Ends------------------------------------

Contact: Sylvia Davies on 029 2052 8384 or 07968 771913.

Notes to editors:

1. ColegauCymru / CollegesWales is a national educational charity that represents all 20 further education (FE) colleges and institutions in Wales. Its mission is to raise the profile of further education with key decision-makers to improve opportunities for learners in Wales. For further information about ColegauCymru / CollegesWales, and the colleges it represents, visit www.colegaucymru.ac.uk or www.collegeswales.ac.uk

2. Teach Others is a two-day accredited course on money management funded by Lloyds Banking Group as part of its Money for Life Programme: a financial capability and personal money skills programme designed to give people the knowledge, skills, confidence and motivation to manage their money well. Money for Life is funding 1,400 financial capability qualifications – Teach Me and Teach Others – which are available to FE practitioners, youth and community workers across the UK.

3. In Wales, Money for Life is delivered by ColegauCymru / CollegesWales in partnership with the National Training Federation for Wales.

4. To book a place on a Teach Others course in Wales, contact Julia Owens, ColegauCymru on T: 029 2052 2500, email hello@collegeswales.ac.uk or follow the links  

5. Pictured: participants on the Teach Others course held on 26 January 2012 with tutor Phil Aubrey (far right).