Old Mutual International, part of Old Mutual Wealth, a leading wealth management business in the UK and internationally, is delighted to announce, in partnership with the UK charity MyBnk and the Isle of Man Department of Education and Children, the launch of ‘Money Skills for Schools’ Week, taking place from the 6th February 2017.
MyBnk’s financial education experts and Old Mutual International volunteers will deliver award-winning programmes to over 600 Year 12 and 13 secondary school students. The Isle of Man Government-backed initiative will teach 16-18 year olds how to budget, bank and borrow, understand taxes, tuition fees and employment rights, and prepare for the cost of university and independent living.
Pupils taking part in MyBnk’s Money Twist and Uni Dosh workshops will also be awarded prizes as part of the Department of Education and Children commitment to developing the 6Rs learning dispositions which form part of the ‘Essentials for Learning’ framework.
Guy Rigden, MyBnk CEO, said: “Young people here face unique challenges and bad budgeting* has been identified as the main debt trigger for Islanders. Managing money well opens up new opportunities and helps us make informed decisions - MyBnk and Old Mutual International are thrilled to be bringing money to life and helping young people prepare for the future.”
Peter Kenny, Managing Director, Old Mutual International, comments: “As the largest life assurance company on the Island, we understand the importance of providing the generations of tomorrow with the skills and confidence to manage finances early in life. We are delighted to support MyBnk expand their services in a local community where we are a major employer. Learning how to use credit effectively, tackle debt or make wise spending decisions will help the students to live more prosperous lives.”
Graham Cregeen, MHK, Minister for Education and Children, said: “Whether heading into higher education or into the workplace, our students rapidly need to get used to handling their own finances, budgeting, completing tax returns etc. The ‘Money Skills for Schools’ programmes will offer age-appropriate, practical advice on the complexities of these areas. It will greatly complement work we do with other organisations to create financially savvy students.”
Media are invited to attend the launch of ‘Money Skills for Schools’ Week at Ballakermeen High School on Monday 6th February, 10.25am to 11am. Graham Cregeen MHK, Minister for Education and Children, will attend and there will be the opportunity to interview students. Please advise jo.overty@gov.im by Friday 3rd February if you plan to attend.
As well as the Ballakermeen session, other school deliveries taking place during the week include: St Ninian’s and Queen Elizabeth II High Schools as well as Ramsey Grammar School and University College Isle of Man. For further information or to attend a session in action, please contact Jo Overty at jo.overty@ gov.im or directly at 686080 or Wendy Ranft-Gerber at Wendy.Ranft-Gerber@ominternational.com or directly at 407545.
Experts from MyBnk and Old Mutual International will also be available for interview throughout the week.
*Source: ‘Isle of Man in Numbers’ report.
Photo - Peter Kenny, Managing Director.
