F92 and Tandem Bank help spread financial literacy

The new programme, developed using Tandem Bank’s expertise, will support young people transitioning through educational settings, and vulnerable families facing poverty. The initiative will seek to empower vulnerable communities to take a leading and proactive role in both understanding and managing their finances, through both bespoke and community-wide educational awareness.

Having launched its own Financial Education programme in January 2023, Tandem, the UK's greener digital bank, has reached over 2,500 young learners based in twelve further education settings throughout the Northwest, and was suitable to partner with Foundation 92 to plug the gap for financial literacy.

A need for financial education in schools

Research from the LIBF1 shows that 83% of students (aged 15-18) want to learn more about money and finance in school. With continued cost of living pressures, the need for support and education is ever more pressing. Tandem’s existing programme is focused on building an understanding of financial products and common pitfalls, providing practical financial education, at no cost – elements which it will bring across into this new venture.

Through the Foundation 92-delivered programme, both organisations will create a far reaching, impactful, and life changing partnership, that achieves important life lessons and outcomes for the people across Greater Manchester – in communities facing hardship, disadvantage, and inequality, often through no fault of their own. The initiative will target Primary and Secondary school pupils, whilst also supporting families in the community that face poverty and disadvantage.

Across a rolling six-week period, a series of workshops within local hubs such as schools and other centres, topics will be delivered and will include topics on budgeting, accounting, saving, credit scores, and understanding debt.

Officials from Foundation 92 said that financial literacy and education is crucial if young people are to understand the financial responsibilities they will face in adult life. Never has this been truer than during the current cost of living crisis. They’re happy that Tandem is supporting the community and empowering young people across the Greater Manchester area.

Also commenting on this partnership, representatives from Tandem Bank said they are focussed on helping consumers transition to a lower carbon lifestyle. But that fight against climate change is nothing is people are left behind and are unable to join it. Sustainability stands for so much more than just carbon emissions and creating a lasting impact across society is at the core of it. Financial skills and literacy are at the heart of the modern economy and daily lives and yet so many lack basic skills or understanding – they’re happy Tandem can bring its expertise to help plug the gap.