The Money Advice & Budgeting Service (MABS) will be hosting a series of Money Management Education events in schools around the country between 25 – 31 March to celebrate Global Money Week 2019.
From Cork to Cavan more than 600 students will take part in activities that will help them understand the difference between Spending Needs and Spending Wants. Choosing relevant scenarios such as buying an outfit, going to a gig or funding a trip with friends the interactive sessions are designed to help students make responsible choices.
Today, less than 1% of all children in the world have access to financial education and financial inclusion, and one billion children live in poverty. In Ireland the statistics are similarly startling. The latest CSO statistics show that just under 800,000 people are living in poverty in Ireland, of which over 250,000 are children. The resulting impact is that many young people struggle with large amounts of debt, resulting in problems in later life.
MABS believes that access to money management education for young people is critical in building financial understanding and resilience for the future. MABS aims to support this learning through the provision of interactive and age-appropriate learning to young people and children in schools around the country. Speaking about the nationwide events, Colette Power, Financial Inclusion Officer with MABS said: “Children can learn about money from a young age and enabling them to acquire skills and knowledge on money management and responsible spending can help them as they grow older to live independently and manage their own finances. Learn Save Earn is a critical part of financial education for children”. This initiative will be delivered in schools by MABS Money Advisers.
Angela Black, CEO of the Citizens Information Board, funder of MABS added: “Education is key in ensuring that the young citizens of Ireland are financially capable into their future. It is great that MABS is working with schools to promote financial awareness and wellbeing during global money awareness week. This is in addition to the various educational outreach programs that MABS run throughout the academic year.”
Global Money Week 2019 in Ireland is part of a global money awareness campaign. Countries from every continent are participating in order to raise awareness of the importance of financial education for children. The coordination of Global Money Week 2019 is being led by Child & Youth Finance International (CYFI), a non-profit organization based in Amsterdam.
Teachers can contact Colette Power by emailing firstname.lastname@example.org to learn more about the various educcational outreach programs provided by MABS.
For further information on money advice or budgeting call MABS 0818 07 2000 Monday – Friday 9am – 8pm, or visit your local MABS office for more information.