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APR? VAT? It’s all Greek to me!

Tuesday, November 9, 2010

Sheffield Heeley MP Meg Munn recently joined young people from across Sheffield to learn more about the financial world at a Barclays Money Skills workshop. The course is part of a financial literacy resource developed by Trading Standards in partnership with Barclays Bank has so far helped over 19,500 young people attend a workshop across the North of England.


At the workshop banking terms such as VAT and APR are explained, the differences are outlined between a credit and debit card and Standing Orders and Direct Debits. The project, which uses characters such as Tania the single mum and Maya the university student, is designed to help young people identify illegal money lenders and avoid getting into their clutches, as well as understanding safe borrowing options such as Credit Unions.  


The initiative aims to bring fun and interactive learning to 16-25 year olds, helping them overcome the hurdles faced by many young people when they begin to engage with the financial sector.


Meg said:


“Understanding the financial world can be difficult so it was great to see young people getting to grips with the issues at a Barclays Money Skills workshop. The activities clearly engaged their interest and increased their confidence in making sensible decisions about their money.”


To find out more visit: http://group.barclays.com/Sustainability/Responsible-finance/Building-financial-capability

Associated Photograph :

Meg learning about ‘necessities’ and ‘luxuries’ on a shopping list.

Meg learning about ‘necessities’ and ‘luxuries’ on a shopping list.

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