Financial wellbeing in the workplace

Build financial wellbeing for young employees and apprentices

Two-thirds of young adults do not have plans in place to help them transition from school into work or training, and a significant minority of young adults are not confident managing their money. (Money Advice Service, 2016)

With many young people feeling the economic effects of the Covid-19 pandemic, it’s more important than ever to ensure they have the skills they need to manage their money well.

Whether you are employing apprentices, providing opportunities for young people through the government’s Kickstart programme, or simply seeking to develop the economic resilience of your young workforce, we can help you.

Effective interventions

 

Young people are more likely to gain vital money skills when they can put their learning into practice – for example when they start a new job and start getting their first paycheque.

That is why employers can make a real difference by supporting their young employees, trainees and apprentices to access a money skills programme or resources. This will not only improve the financial wellbeing of your employees, it will also help you to build a resilient workforce and avoid the negative effects of money-related stress on your business.

Support for your young employees and your business

We’ve collected information about a range of programmes and resources that meet the needs of young people starting out in the workplace.

Whatever works for you – self-guided or facilitated learning, free resources or more intensive programmes – find a programme that can help your young employees build the foundations for their future financial wellbeing.

These programmes and resources are either offered by accredited providers or supported by evaluation.

Intervention and organisationDescriptionDelivery methodLocationFee
Academy of Money 
(Open University / Money Saving Expert) 
Online self-directed learning for all agesDigitalUK wideFree
Lessons in Financial Education (LiFE) Award/Certificate 
(London Institute of Banking and Finance) 
Self-directed or facilitated learning for 16-24 year oldsDigitalUK wideFees charged
Money & Me 
(Young Scot) 
Money management information for young peopleDigitalScotlandFree
Money Smart 
(Youth Cymru) 
Practical guidance on developing young adults’ money skills, available in Welsh and EnglishGuideWalesFree
Money Works 
(MyBnk) 
Facilitated workshops for 16-25 year olds moving into independent livingFace-to-face with virtual optionUK wideFees charged
Money Works online modules
(MyBnk and the Mix) 
Self-directed learning modules for 16-25 year olds, focusing on those moving into independent living DigitalUK wideFree
Money Workshops for Young People 
(The Money Charity) 
Facilitated workshops for 16-19 year olds Face-to-face with virtual optionUK wide (face-to-face in England and Wales only)Fees charged
Personal Finance Award 
(SQA) 
Personal financial qualification suitable for school leavers and young adults, accredited by SQA and delivered by local training providersFace-to-faceScotlandFees charged
Work Dosh
(MyBnk) 
Facilitated workshops for 18-30 year old apprentices, graduates and employees in the early stage of their careersFace-to-face with virtual optionUK wideFees charged
Workplace Money Workshops and Webinars 
(The Money Charity) 
Facilitated workshops for young apprentices and employeesFace-to-face with virtual optionUK wide (face-to-face delivery in England only)Fees charged

Contact us

 
To find out more about our work to improve young people’s financial wellbeing or to tell us about your work in this area, contact us on cyp@maps.org.uk.

 

Back To Top

Coronavirus and personal finances

Use our guides to support your employees and customers.