New Programme Teaches Young People Financial Skills to Manage Money and Avoid Debt in West Cumbria
West Cumbria, UK – A new initiative is helping young people in West Cumbria gain financial know-how to successfully manage their money and avoid debt. The programme, part of the Financial Wellbeing strand of Transforming West Cumbria, is funded by the Sellafield Ltd Social impact multiplied (SiX) programme and delivered by Cumbria Community Foundation.
Citizens Advice Allerdale, Citizens Advice Copeland, and Whitehaven, Egremont & District Credit Union have joined forces to provide workshops and training sessions for young people aged 11 to 18. These sessions cover topics such as managing debt, saving strategies, and banking basics.
Shelley Hewitson, Chief Officer at Citizens Advice Copeland, explains the importance of financial wellbeing: “Financial wellbeing is defined as the feeling of being secure and in control, being able to pay the bills today, having the capacity to deal with the unexpected, and being on track for a healthy financial future.”
Tara Edwards, Chief Officer at Citizens Advice Allerdale, adds, “Our sessions provide an introduction to essential topics that we believe are fundamental to achieving financial wellbeing – budgeting, debt, credit, savings, banking, employment, and starting a job. We use a variety of quizzes, tasks, games, and hands-on practice to make the sessions both fun and informative.”
The programme has received positive feedback from young people in West Cumbria, with 98% of attendees saying they would recommend the budgeting sessions to someone their own age. One participant shares, “I didn’t have a good understanding of money and budgeting beforehand, but now I know how to prioritize my expenses and set a budget for myself.”
The Financial Wellbeing programme also offers online resources, including information for those moving to university or starting an apprenticeship, available at https://citizensadvicecopeland.org.uk/index.php/life-skills/.
Nikki Bates, Development Manager at Whitehaven, Egremont & District Credit Union, discusses their role in the programme: “We explain the importance of managing income and expenditure and how to identify and prevent problems with spending. Our project is aimed at Year 10 students, but we have delivered it to children aged 11 to 18.”
The programme has been well-received by schools and colleges in West Cumbria, including St Benedict’s School, Solway School, Beacon Hill School, Energy Coast UTC, and Mayfield School. There have also been sessions for apprentices at Sellafield and community youth groups. A joint session for young people at Cumbria Academy for Autism was also held by the Credit Union and Citizens Advice.
The Financial Wellbeing programme was launched in 2020 as part of Transforming West Cumbria, with the goal of breaking the cycle of debt for low-income residents. In addition to school and college sessions, the programme also funds financial wellbeing officers who provide one-to-one financial health checks and information to empower individuals to take control of their finances.
Eirini Etoimou, Head of Corporate Sustainability & Supply Chain Development at Sellafield Ltd, shares, “Transforming West Cumbria aims to tackle the causes of inequality in our most vulnerable communities and bring about lasting change. We know that many people in West Cumbria on low incomes find themselves trapped in a cycle of debt with seemingly no way out. The Financial Wellbeing programme funds work across the community to break this cycle.”
Dr Jenny Benson, Director of Programmes and Partnerships at Cumbria Community Foundation, adds, “We see every week the difficulties many people in West Cumbria face managing their household finances, especially in the face of rising costs and increased pressures since the cost of living crisis. This, in turn, can sadly lead to anxiety and other mental health challenges. We are pleased to deliver the Financial Wellbeing programme with our partner organisations, particularly the work in schools and colleges, which is equipping young people with the skills and knowledge they will need throughout life to manage their money, stay out of debt, and maintain their well-being.”
Citizens Advice Allerdale and Citizens Advice Copeland offer free and independent specialist advice on various topics. Financial wellbeing support, including ways to cut down on bills and increase income, as well as budget planners, can be found at https://citizensadviceallerdale.org.uk/get-advice/financial-wellbeing/cutting-down-on-bills/. Information for people of all ages needing support with problem debt is available at https://citizensadvicecopeland.org.uk/index.php/debt-and-money/.
“Transforming West Cumbria” is distributed by https://pressat.co.uk/ and was launched in 2020 to address inequality in the community and bring about long-term change. Through the Financial Wellbeing programme, the initiative is providing vital resources and support to help break the
