Teens given vital lessons in managing their money

TEENAGERS have been given expert advice on the best ways to look after their money when they leave school.

The students at Hinckley Academy’s John Cleveland Sixth Form Centre received various tips from Ed Flack, pictured, about the best ways to stay solvent when they go on to work or further or higher education.

During two days of Manage your Money lessons, 120 students and 30 of their parents attended the classes that were provided by not-for-profit financial education group WizeUp and sponsored by Hinckley & Rugby Building Society.

Michael Betteridge, sixth form adviser at the centre, said: “The WizeUp sessions have been an integral part of the John Cleveland Sixth Form Futures Conference for a number of years now.

“Ed’s invaluable input gives our students vital information that will carry them through not only university, apprenticeships and employment but throughout the rest of their lives.

“For many students it is the first time they have had to face the realities of adult life and they often have little idea about tax, National Insurance and deposits, bonds and so on.

“But by the end of their time with Ed they feel much more equipped to deal with the financial issues that await them.

“We often have ex-students comment on the fact that the information they received from Ed has helped them immensely since leaving the college.” The workshop covered budgeting, flat-sharing, credit cards and credit ratings.

A lesson for parents looked at student finance and a World of Work session also took in saving, investing, tax and National Insurance.

It is the seventh time Ed has worked with year 12s at John Cleveland during the seven years Hinckley & Rugby has been supporting WizeUp’s visits to schools and colleges in its heartlands. Ed said: “We had a really successful couple of days with both the students and parents of JC6.

“We covered separate sessions for those students looking to go on to university and those moving directly into the workplace. “Lots of questions were asked and the students stayed really engaged. “As always, my sincere thanks to all of the staff who made the days possible and also to our fantastic sponsors at Hinckley & Rugby Building Society for their continued support.”

Hinckley & Rugby admin assistant Suzanne Williams dropped in to see the sessions and said: “The information that Ed passes on to the students will definitely be really useful and I wish I’d had the opportunity to learn from him when I was at school. “We’re proud that so many students at JC6 and other schools in Hinckley, Rugby and Nuneaton have been helped with our support over the years.”

By the end of their time with Ed, the students feel much more equipped to deal with financial issues