‘Uni Dosh’ finance lessons for Redbridge school leavers
AS STUDENTS worry how they will pay up to �9,000 a year in university fees, Redbridge Council has launched a financial literacy drive for teens.
School leavers in the borough will be armed with skills and knowledge in money management to help make their transition to university or independent living as smooth as possible.
The council has commissioned 30 “Uni Dosh” sessions which will be run by charity MyBnk and give a crash course in budgeting, bursaries, loans and overdrafts.
There will also be six microfinance youth-led banks, offering youngsters the chance to save and to receive interest free loans of up to �100 for business start-ups.
Workers from MyBnk visited Woodford County High School in High Road, Woodford Green and pupils described the session as “a real eye opener.”
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Head of sixth form Emma Fearnham said: “Young people are often very good at spending money, but find budgeting, for example, much more of a challenge.
“The session has made us think about possible financial pitfalls and how to avoid them.”
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Alaina Husbands, 16, added: “A lot of terms I’d heard before, but didn’t know what they meant. The session made things really clear.”
Cabinet member for children’s services, Cllr Alan Weinberg said: “We have worked with MyBnk to tailor their programmes to the needs of our young people.
“We want to encourage them to become active savers and make them aware of financial issues as they reach certain key decision points in their lives.
“We recognise these essential life skills as critical over the next few years and beyond with individuals becoming increasingly responsible for planning their economic wellbeing.”
Sessions have also been delivered at Trinity Catholic High School, Mornington Road, Woodford Green and Ilford Ursuline School, Morland Road, Ilford.