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Money Works with MyBNK

Last term, a group of students at Aurora Boveridge College in Cranborne, Dorset, had the opportunity to participate in a two-day financial education programme hosted by the charity MyBNK.

This initiative is part of MyBNK’s mission to provide financial literacy to young people in vulnerable circumstances or at key transitional moments in their life.

MyBNK’s programmes go beyond simply informing, they are designed to cultivate not just financial knowledge but also skills, mindsets and habits that are needed for navigating the complexities of personal finance. For some of the students at Boveridge College, this programme was particularly timely, as many of them are in the final stages of their transition before moving to supported or semi-independent living alongside venturing into the workforce.

The 2-day programme covered a range of topics, including:

  • Budgeting and Household Costs: Understanding attitudes towards money, needs & wants, cutting back, budgeting, steps after move-in, reading bills and household costs.

  • Your Income: Exploring various sources of income, understanding wage slips, tax & NI, benefits, universal credit and sanctions.

  • Banking and Being Informed: Delving into how banks work, savings and current accounts, interest, forms of payment, choosing an account, understanding contracts and tenancy agreements.

  • Borrowing and Scams: Understanding the forms of borrowing, credit history, debt consequences & prioritisation, staying safe with money and understanding risks associated with activities such as money muling.

"It was so good to see our students fully engaged in the lessons.  It was interesting and relevant, particularly for those who are about to move into independent living.  We are looking forward to working with MyBNK again in the future, and highly recommend them to other schools and colleges." David Bird-Hawkins, Pastoral Lead at Boveridge College

For students preparing for independent living, the skills learnt during this workshop are invaluable. The empowerment gained from understanding money matters will not only help in their transition but also equip them with lifelong skills for financial well-being.

At Aurora Boveridge College, initiatives like these are not just educational events, but transformative experiences that pave the way for a brighter and more secure future for our students.

Aurora Boveridge College is a specialist further education college providing day and residential support for young people with Autism spectrum conditions or additional social, emotional and mental health needs.