Students learn how to budget their money

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STUDENTS at Angus College have been building their financial knowledge, skills and confidence as part of Barclays Money Skills week which ran during the final week of March.

This initiative was 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 were given the opportunity to participate in entertaining and informative money management activities based on topics such as food, health, family and independent living.

Barclays and the National Skills Academy for Financial Services worked in partnership to deliver the learning week across the UK and were seeking to strengthen the money management skills of over 90,000 students across 150 further education colleges nationwide. Barclays employees volunteered their time and expertise to help colleges with the planning and delivery of activities.

Recent research 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.

Staff and students at Angus College hosted a series of lunchtime events to offer practical advice on budgeting and saving. This included the ‘Value V Brand’ shopping basket game with £40 worth of shopping up for grabs to the person who could guess the price difference.

Beauty therapy students also offered a session on how to create homemade beauty products such creams and facemasks from household items. For their bit, the college art department offered a ‘free art for your home’ workshop in which they invited students to come along and make a one-off piece of art for their homes.

Angus College learner engagement officer Katie Anderson said: “Staff and students have provided some great activities this week which help highlight great ways of budgeting, saving and spending. Making good financial decisions is an essential life skill, and by building students’ financial skills we are empowering them to reach their goals.”