College Development Network (formerly Scotland’s Colleges) has teamed up with Apex Scotland to provide money management training for their front line staff.
Money for Life is Lloyds Banking Group’s award-winning personal money management programme. In Scotland, College Development Network and Bank of Scotland are working together to embed vital money management skills in the wider Further Education and community learning sectors, at a local level.
Colin Buchanan, manager of the project at College Development Network says, “Predominantly our role is to support colleges, but for this project we are able to offer similar opportunities out to communities. Research shows that there is a direct positive correlation between formal financial training and improved money management practice. We are delighted to be able to work with staff from Apex Scotland as they embark on the Money for Life qualifications.”
Financial capability is defined as ‘having the knowledge, skills, confidence and motivation to manage your money well. This includes understanding financial products, being able to use them and having the confidence and motivation to do so’.
Apex Scotland is accessing fully funded programmes to equip staff with the necessary skills to further disseminate sound money management practice to its clients.
The Money for Life programme provides three accredited, fully-funded qualifications:
- Teach Me Financial Capability: An online course to improve your own knowledge of money management to run financial capability workshops
- Teach Others Financial Capability: A two-day course that enables those who are not qualified teachers – such as community or advice workers – to gain the teaching skills to run financial capability workshops
- Money Mentors: A two-day course to enable participants to gain the mentoring skills to give one-to-one money management support
Fiona Campbell who supports young people aged 16-19 was one of those who took part in the training and she said
“Providing the Lifeskills element of the Government’s Get Ready for Work programme, calls for working with young adults between the ages of 16-19, to increase their employability. In order to do this effectively, teaching a young person to become financially capable is a key part of my role. Young adults have to be aware of the value of money itself, which in turn should lead the young person to recognise the value of work. I found the training very useful in the sense that I feel more equipped to look at the issue of being financially capable from a different vantage point, rather than trying to formulate a prescribed approach and telling the young person what they should be doing. We now work with the young person in getting them to think for themselves and having them really look at the bigger picture whilst steering them in the right direction if need be”.
Gerard McEneany, Head of Operations for Apex Scotland said
“We welcome the partnership with College Development Network and Lloyds Banking Group’s Money for Life in supporting what is a highly worthwhile initiative
Our staff were delighted to be able to work with Colin and his colleagues at College Development Network. There is little doubt that the forthcoming welfare reforms will present a challenge to some of our clients and they will require support from trained and skilled staff in order to manage their finances. The Money for Life programme not only provides staff with current skills and knowledge, there are also lots of excellent materials that can be accessed to engage clients”.
