Girlguiding, in collaboration with HSBC UK, has introduced a new ‘Money Skills – I’m Money Confident’ badge and activities aimed at teaching financial literacy to over 300,000 girls aged 4-18 across the UK. This initiative includes practical resources tailored for each age group, empowering girls to confidently manage their finances.
The programme will also provide training for Girlguiding’s 80,000 volunteers, equipping them with transferable money management skills beneficial for running Girlguiding units and personal use.
Research Highlights Girls’ Lower Financial Confidence
HSBC UK’s recent study found that 36% of girls aged 5-17 feel unskilled in money management compared to 33% of boys. Additionally, 63% of girls have seen parents worry about finances, with 11% of girls aged 5-9 already concerned about the cost of living. This figure rises to 19% among girls aged 15-17.
Supporting these findings, Girlguiding’s recent survey revealed that 62% of girls aged 11-21 are increasingly worried about affording bills and financial stability, with 57% expressing concern over securing a home or stable income in the future, up from 45% three years ago. Over half (57%) of girls aged 7-21 indicated a desire to learn more about money management.
Activities for Financial Literacy
The new activities fall under Girlguiding’s ‘Skills for My Future’ programme and are tailored to age groups:
- Rainbows Coin Collectors (ages 4-7) introduce basic currency concepts.
- Brownie Points Bonanza (ages 7-10) focuses on earning, saving, and spending.
- Money Talks (ages 10-14) teaches Guides about budgeting and financial planning.
- Track the Cash (ages 14-18) for Rangers covers creating budget planners, understanding credit options, and the implications of interest fees.
The activities can be completed during unit meetings or at home, emphasizing early learning due to research showing that financial habits are formed by age seven.
Upon completing the activities, girls can earn the ‘I’m Money Confident’ badge, accredited by the Young Enterprise Quality Mark.
Empowering Girls with Essential Life Skills
Angela Salt, CEO of Girlguiding, stated: “Research shows girls want to develop money management skills but don’t get enough opportunities. We’re changing that with HSBC UK’s support, helping girls from ages 4 to 18 build financial literacy through engaging activities and a new badge.”
Ian Stuart, CEO of HSBC UK, added: “Financial skills are essential life skills. Through our partnership with Girlguiding, we’re helping more girls develop the confidence to manage their finances and secure their futures.”
Hannah, a 17-year-old Girlguiding Advocate, said, “Money concerns are real for many girls. Talking about money is often taboo, but learning about it young is vital for making informed choices as we grow. These activities will empower girls with the tools they need.”
Creating a More Equal Future
Girlguiding continues its commitment to fostering an equal world where all girls can thrive. The organisation calls for renewed national efforts to address the gender pay gap and ensure earning potential is not gender-based.
To support families during the cost-of-living crisis, Girlguiding has introduced measures to keep participation accessible and affordable. This includes helping units access various funding and grants.
HSBC UK remains dedicated to financial education, having reached over 645,000 young people in 2023 through partnerships and their Education Network.
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