Students at Exeter College will build their financial knowledge, skills and confidence during Barclays Money Skills ‘week’ from the 7th and 11th March. This initiative is designed to give students an awareness of money management issues and provide them with the tools they need to stay in control of their budget. Students will participate in entertaining and informative money management activities based on topics such as food, fashion, family and independent living.

Barclays and the National Skills Academy for Financial Services are working in partnership to deliver the learning week across the UK and are seeking to strengthen the money management skills of over 90,000 students across 150 FE colleges nationwide. Barclays employees will be volunteering their time and expertise to help colleges with the planning and delivery of activities.

Recent research commissioned by Barclays has highlighted that young adults face significant challenges when managing their money, at a time when they are likely to be entering financial independence and needing to stretch their constrained incomes to meet their day to day needs. More than a third (36 per cent) run out of money regularly, with a further 27 per cent of unemployed young people saying they are always running out of money.

Michelle Smith, Head of Consumer and Community Affairs at Barclays, “We know from our research that young people face a particularly challenging set of circumstances, and need all the help they can get to manage their money effectively. We’re investing £15m over three years in projects such as Barclays Money Skills ‘weeks’ and are working to support one million people to build their financial skills, knowledge and confidence.”

Jennie Hamilton, Deputy-Head of Safeguarding, Equality, Tutoring and Well-being (STEW), said “During Barclays Money Skills ‘week’ we will cover topics such as budgeting, saving and spending; and offers practical guidance on what to do when something goes wrong. Making good financial decisions is an essential life skill, and by building students’ financial skills we are empowering them to reach their goals.”

Sylvia Perrins, CEO at the Skills Academy said “Rising costs, lack of funds and the continued instability in the job market serves as a poignant reminder that the financial decisions students make are of utmost importance. Through our fun activities and learning sessions we hope that students will gain a better understanding of budgeting and an increased awareness of financial issues and products. This will guide them when making financial decisions which affect their future.”