Communications Executive, MyBnk
In vibrant Glasgow, a generation of young people stands poised to shape the city’s future. However, amidst the city’s bustling energy and cultural diversity lies a stark reality: a significant portion of Glasgow’s youth face the daunting challenges of financial insecurity and a lack of financial literacy.
We are MyBnk, a charity dedicated to empowering youth through financial literacy by helping them confidently take control of their money. The Money House is our transformative programme that equips young people with the skills and knowledge they need to navigate the complexities of independent living.
We were delighted to attend the Community Justice Glasgow’s ‘Let’s Get Re-Connected’ event in October at the Emirates Stadium and were grateful to have the chance to spotlight our Money House programme. We also had the opportunity to network with other organisations supporting young people in contact with the justice system.
The Money House is a three to five-day course tailored to young people aged 16 to 25 who are either already living independently or on the cusp of transitioning into their own homes. This crucial period in their lives is often loaded with financial challenges, particularly for those with experience in the justice system. Through interactive activities, games, and open conversations about money with expert trainers, The Money House addresses these challenges head-on, providing participants with the essential tools to manage their finances effectively, avoid rent arrears, and maintain their tenancies.
Two-thirds of our work is with young adults in challenging circumstances, such as those leaving the UK care system. Unfortunately, there is a link between people with experience of the care and justice systems. Those who have been in care make up 33% of Scotland’s youth offender population and 31% of Scottish adult prisons (Scottish Prison Service, 2018). We’re proud to have welcomed many care-experienced young people onto our programmes. In our latest YouTube video, we interviewed Michael, a care-experienced young person who participated in The Money House Glasgow, during his trip to London.
Financial literacy is particularly important for young people with experience in the justice system. A lack of money management skills can often lead to a cycle of financial hardship, instability, and increased risk of reoffending. By addressing the underlying financial stressors that can contribute to reoffending, The Money House provides young people with the financial foundations to make informed financial decisions that will positively impact them in future.
The Money House is more than a financial education programme; it’s an investment in the future of Glasgow’s young people. By equipping them with the skills and knowledge they need to manage their finances effectively, the course empowers young people to build a path towards brighter financial futures.
MyBnk is a registered charity in Scotland (SC050175) who works not only with young adults but also with school aged children and young people.
To arrange a MyBnk session, including The Money House in Scotland, please get in touch with our Scotland Partnership Manager, Gemma Orr, by sending an email to gemma.orr@mybnk.org
To find out more about MyBnk’s work in Scotland, visit this webpage: https://www.mybnk.org/our-work-financial-education/scotland/
