Enterprising Mindsets | Minding Your Money

How can we support the next generation of young people to become more financially capable? And what role can mindset play when it comes to developing the financial skills and capabilities to thrive in today’s society?

These questions were the focus of our Enterprising Mindsets | Minding Your Money event starring Martin Lewis OBE Founder of Money Saving Expert, Oli Barrett Founder of Tenner, Fozia Irfan Director of Children and Young People at BBC Children in Need, Claer Barrett Consumer Editor at Financial Times, Saeed Atcha MBE DL CEO Youth Leads UK, Russell Winnard Director of Programmes and Services at Young Enterprise, Sharon Davies CEO Young Enterprise, and Emmy Dent TikTok Finfluencer. Press the play button below to watch now.

Some of the key reflections from the 90 minutes were:

• We have real potential to change the narrative around financial education to show it as an enabler and opportunity-maker.
• If we’re serious about offering more practical ways to level up, young people need more opportunities, from an early age onwards, to build the necessary skills and mindset to manage money.
• Young people learn when faced with real, relevant and meaningful scenarios – how do we bring these into their learning in realistic and achievable ways?
• We cannot expect teachers and schools to do this on their own – we need to look outside of the formal education environment and support parents, carers, youth workers and communities to help young people build their financial capability.
• Young people are growing up in a fast-moving financial landscape facing social media misinformation, the digital divide, a cashless society; how do we equip them with the skills they need to be confident in their decisions around money?
• There is an urgent need to more fully understand the contribution that financial capability makes to an individual’s social mobility.

At Young Enterprise, we are continuing to explore the importance and lasting impact of financial education in the Enterprising Mindsets podcast series where we also consider the potential impact financial capability can have on social mobility. You can listen on Spotify, Apple Podcasts or YouTube, or search for Enterprising Mindsets wherever you get your podcasts.

The themes discussed in the podcast series and findings from the event will be outlined in the upcoming Enterprising Mindsets: Minding your money report; please keep an eye on our website for the digital copy of the report when it is published in Spring 2022.