Just Mortgages has launched a nationwide initiative to teach students the importance of managing their finances.
As part of the campaign, brokers from Just Mortgages’ self-employed team is going into schools and colleges to help children understand how to manage their finances.
The sessions cover a range of financial topics, including what bank accounts are available, what an overdraft is and how to avoid charges, the concept of credit and how to build a good credit score, bills and financial planning, what types of loans are available and the importance of saving.
The Just Mortgages team will also explain the basics of understanding mortgages, rent and protection, as well as supporting young people with bespoke advice customised to them at the end of each session.
Organised by Carl Parker, national director of the self-employed division, these sessions aim to ensure children understand the basics of finance at an early age.
The sessions were designed by Scarlett McKenzie, training manager at Just Mortgages.
Parker said: “Our aim with this series of sessions across the UK is to educate young people on the importance of managing their finances.
“The hope is that by arming young people with monetary knowledge, this can then evolve into positive habits that will stay with them in adulthood.
“The events have had a really positive response so far, and parents have come up to our brokers expressing their appreciation.
“Many have explained they never had any financial advice growing up, and as such an important part of life, appreciated that their children were being taught the basics.”
McKenzie said: “Often there is little to no financial advice given in schools, and we wanted to help bridge that gap.
“While the training may not help the children pass any exams, they will hopefully set them up for a stable financial future.
“Many young people may not be aware of the implications their credit score has for their chances of owning property in the future, so these sessions are critical to help educate the next generation.”