Money Mastery
The Legacy
Over the past five years I’ve had the privilege of delivering two hugely popular money coaching workshops to youth workers. In all over 1,900 professionals from across the sector attended Money Mastery and its sister programme Money Mastery Meets the Benefits Trap, thanks to the generous support of Lloyds TSB Foundation.
The courses were run as a successful collaboration between The National Youth Agency (NYA) and Whatever Life Throws (formally Kikass). They were designed to work in tandem with the FSA’s (now the Money Advice Service’s) Young People and Money course which was delivered separately but in parallel.
Whilst the programme in its current form has come to an end, this document offers something of a legacy. We hope that the information herein acts as a refresher for anyone who attended either of the courses and gives a flavour of Money Mastery to those who didn’t get the chance to participate. We also hope that this legacy document can inform the work of any professionals responsible for developing the next generation of youth focussed financial capability projects.
Whatever your motivation for reading Money Mastery Legacy we hope it adds value to your professional practice (and, if you choose, your own personal relationship with money).
Neil Almond
Money Mastery Events - these ran up until Spring 2011
Money Mastery wasn’t finance training for young people. It was training that equiped young people’s workers to motivate young people to think about their income, wealth and their personal goals. It was a free, high energy, one day money coaching seminar, offered through the National Youth Agency’s Financial Literacy Programme.
More than a thousand young people’s workers went through the programme.
A second course, The Benefits Trap, addressed the need to go beyond an entitlement approach to benefits and provide young people’s workers with techniques to open up exploration of aspirations and improved motivation.
Benefits
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Helps young people’s workers to create new options and choices, helping young people to overcome the negative beliefs, patterns and behaviours that keep them stuck.
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Raises aspiration in youth workers both of themselves and of the young people they work with.
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Assists youth work practitioners to meet the ‘achieving economic wellbeing’ Every Child Matters outcome.
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Bespoke programmes for local authorities on request.
Money Mastery meets the Benefits Trap:
Over the past two years many youth workers attending Money Mastery courses have expressed their frustration at a phenomenon that is often dubbed ‘The Benefits Trap’. NYA offeried a new course to run alongside Money Mastery which aimed to start addressing these issues – or at least give more options and choices to youth workers who are faced with them. The course informed by new research and structured to give practical tools and techniques to practitioners aimed at helping (where appropriate) to move young people from unemployment and into work, training or education.
About Money Mastery
Money Mastery was designed to work in tandem with the FSA’s Young People and Money course (http://www.youngpeopleandmoney.co.uk/). The two courses complemented each other and could either be attended as stand-alone workshops or alongside each other to provide a broader solution to the challenges of working with young people around their financial literacy.
The National Youth Agency is grateful for the support of the Lloyds TSB.
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