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Understanding Your Financial Futures with WizeUp Financial Education
In this blog, Sophia Mousoulides, Head of WizeUp with Jack Petchey Mainstream Programme shares how young people can take charge of their financial future!
A recent conversation with my aunt in Cyprus brought a fundamental question into sharp focus: ‘How much money is enough to live on in retirement?’ We discussed the differences in pension systems between the UK and Cyprus (where she is a national), and it became clear that for many, their state pension alone is not near enough to live on.
Thankfully, in the UK we have auto-enrolment workplace pensions, which don’t exist in Cyprus, and help to plug the financial gap. Unfortunately, there are too many people not thinking about how much money they will need to live on, how much they need to save, and how much their investments will return when they retire.
We all need to think about pensions sooner rather than later, which is why we tell young people about them. One of the items on my to-do list is to set up pensions for my primary aged children. Even a small amount set aside now will have plenty of opportunity to grow by the time they are ready to retire.
This year, we’ve adapted our menu for the needs of the young people who take part in our WizeUp with Jack Petchey Programme, with dedicated workshops on pensions, saving, and investing to enable us to cover more. Equally, there also are now new modules on mortgages and rent, scamming, gambling, and payday loans, reflecting the concerns we hear about when speaking to young people during workshops. We will leave a full list of the sessions offering within the mainstream sector below.
WizeUp with Sir Jack Petchey Mainstream Topics
Year 12-13
- Budgeting for Life After School
- How Tax Works & How to Boost your Pension
- How to Maximise your Savings & Invest Responsibly
- Credit Card Management & Building a Positive Credit Rating
- Understanding Cryptocurrency and its risks
- How to apply and manage Student Finance & Information on Degree Apprenticeships
- Things to know about Renting & Mortgages
- Awareness of Scamming, Gambling and Payday Loans.
Year 10-11 (Only for schools without a Sixth Form)
- Budgeting & Earning Extra Money
- How Tax Works
- How to Maximise your Savings & Invest Responsibly
- Credit Card Management
- Understanding Cryptocurrency and its risks
- Awareness of Scamming, Gambling and Payday Loans.
To enquire about the programme or to book your sessions, please click here.
Written by Sophia Mousoulides, Head of WizeUp with Jack Petchey Mainstream Programme.