The 10th-17th March was Learn Money Week - a global money awareness week celebration, uniting organisations with a shared goal - to financially educate the young.
On Monday the 10th of March, at the launch of UK's Learn Money Week near MyBnk’s offices in Shoreditch, a variety of people from different backgrounds showed their support for financial education. Charities, fund managers, schools, pension schemes and social enterprises all were united in agreement that there is a need for educating young people about money.
Momentum is growing, with financial literacy officially entering the English national syllabus for the first time from September this year.
At Redington, we have started an initiative to help spread financial literacy across the UK. RedSTART is our financial education and entrepreneurship mentoring programme which was set up in December 2012 to teach young people about money: How to get it; how to keep it; and how to grow it.
We are, of course, aware that there are other organisations trying to achieve the same goal. However, instead of trying to re-invent the wheel, we are focussing on working with the other leading providers, such as MyBnk, to provide support to schools.
At RedSTART, we provide high impact sessions to young people outside the classroom in our or a partner’s office that initiate ambition in the students as well as delivering the underlying financial literacy material. We do this by partnering with and engaging other corporations in our programme so that we can spread the message and expand the programme effectively.
During Learn Money Week, we ran five back-to-back RedSTART sessions where Axa Investment Managers and Henderson Global Investors contributed their expertise and hosted three of the education days. Over the past year we have also been lucky to work with BlackRock, Axa Wealth and Pensions First and we will continue working with them on an on-going basis.
We have had an overwhelmingly positive response to RedSTART and have a host of organisations lined up to get involved.
With the positive feedback RedSTART has received, and the interest we have had in the programme, this year we really feel on the cusp of expanding hugely. Going forward, we are looking to work more closely with schools and are engaging with MyBnk so that we can complement the ongoing work in the financial education field. We believe this will be the most effective way to achieve the end goal: a financially literate nation.
If you would like to learn more about RedSTART, would like to get involved or know a school that would benefit from our teaching, please do get in touch: RedSTARTorganisers@redington.co.uk