Developing Financial Awareness Accredited Through Youth Achievement Awards

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DevelopingFinancial AwarenessAccredited Through
Youth Achievement Awards
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Main characteristics of the Awards are that they

• Recognise and accredit young peoples
  achievements.
• Are quality assured and nationally accredited
  through the Awarding Body ASDAN.
• Encourage progressive responsibility and
  ownership of learning.

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• Provide a mechanism by which to measure the
  quality of work with young people
• Reinforce good practice
• Encourage participation and social inclusion
• Utilise peer education techniques

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• Youth Achievement Awards are a well established
  activity-based approach to peer education
• Designed to help develop more effective
  participative practice
• Encourage young people to progressively take more
  responsibility

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• Peer group model is an integral part of the
  Awards
• Encourages the development of a wide range of
  life skills
• by using a flexible and informal approach
• by selecting, planning and leading activities
  that are based on their own interests

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Accrediting Prior Learning
Past achievements can also be used to count
towards the Youth Achievement Awards! More
information on this and the other awards which
have credit value within the Youth Achievement
Awards can be found in the Guidelines to the
Youth Challenges and Youth Achievement Awards
which can be downloaded from Youth Achievement
Awards section titled YAA Resources of the UK
Youth website www.ukyouth.org. This will also be
covered in more detail on the Introductory
Training day, which is required for all Award
Group Workers.
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Why link Financial Awareness with the Youth
Achievement Awards?

• Financial awareness is an important life skill
  for everyone
• Many young people include elements of financial
  awareness within existing Youth Achievement
  Awards
• The activity based approach of the Y.A.A. provide
  an ideal context for the development of financial
  awareness
• Has added benefit that young peoples experiences
  can be formally recognised and accredited

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• Throughout their lives, young people are required
  to make increasingly more complex financial
  decisions
• Choosing which clothes to buy
• Balancing income and expenditure
• Managing payment of bills
• Deciding how and where to invest savings
• Planning for long-term financial security

All these together with the prospect of an
increasingly flexible labour market!
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• It is universally recognised that the vast
  majority of young peoples level of awareness in
  relation to Financial Awareness could be a great
  deal better.
• The Financial Awareness Toolkit provides youth
  workers,volunteers and teachers with an
  invaluable access point for this challenging area
  of learning.
• It is designed to support practitioners working
  in formal,informal and non-formal learning
  contacts
• eg youth clubs, voluntary organisations,
  schools and colleges.

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Challenges

• Challenges are structured using language
  designed to help young people adopt the
  appropriate degree of responsibility for the
  level of Award being undertaken.

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Gold Challenges

• Gold challenges start with the words
• Organise an activity

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Silver Challenges

• Silver challenges start with the words
• Help organise an activity

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Bronze Challenges
Bronze challenges start with the words Take part
in an activity

Bronze targets reflect the fact that young people
are taking part in activities with others
(They are participating in the challenges)
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ChallengesBronze/Silver/Gold
The toolkit has 5 challenges

• Paying for goods and services
• Borrowing money
• Consumer rights
• Buying goods and services online
• A home of your own

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BronzePaying for goods and services

• Challenge
• Take part in an activity that helps me find out
  about different ways of paying for goods and
  services
• Possible Targets
• Make a list of advantages and disadvantages for
  three different ways of paying for things
• Produce a chart comparing the interest rates for
  different methods of paying

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BronzePaying for goods and servicesTargets

• Create a poster showing how adverts in the media
  (eg in magazines, radio and tv) deal with
  financial issues
• Produce a poster showing the true amount if
  paying for an item over two years, three years
  and five years
• Carry out a survey into how people pay for
  things
• Create a leaflet providing guidance for other
  young people
• Find out as much as possible about one type of
  card (eg credit card, debit card, store card)

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BronzeBorrowing money

• Challenge
• Take part in an activity that helps me find out
  about different ways of borrowing money
• Possible Targets
• Visit a bank or building society and interview a
  financial adviser about borrowing
• Carry out a survey of people 16 to find out how
  many different ways they have borrowed money

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BronzeBorrowing money. Targets.

• Produce a poster showing the meaning of key terms
  associated with borrowing (eg interest rate,
  credit, A.P.R, terms, deposit, guarantor, loan,
  hire purchase)
• Find the true cost of buying a new TV using loans
  from different companies or banks over a two year
  period
• Produce a chart comparing the interest rates of
  different loans
• Write an article for a newsletter/magazine
  describing the best and worst ways of borrowing
  money

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BronzeConsumer Rights

• Challenge
• Take part in an activity that helps me find out
  about consumer rights and how to deal with faulty
  goods/services.
• Possible Targets
• Produce a poster showing the difference between
  goods and services
• Produce a chart showing the main laws that apply
  to consumer rights

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BronzeConsumer Rights. Targets.

• Create a flow diagram showing the most effective
  way of complaining about a faulty item
• Perform a series of role plays showing the
  correct and wrong way to make a complaint
• Create a leaflet for other young people,
  providing guidance on consumer rights
• Listen to someone from Trading Standards talk to
  us about consumer rights
• Write a letter of complaint to Fun Fones asking
  for a refund for mobile phone calls that I have
  not made!

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BronzeBuying goods and services online

• Challenge
• Take part in an activity that helps me find out
  about buying goods and services online
• Possible Targets
• Make a list of advantages and disadvantages of
  buying goods and services online
• Help create a leaflet of useful dos and donts
  for people thinking of buying online

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BronzeBuying goods and services online Targets

• Find out how internet auctions work
• Compare the price of items purchased in the high
  street with the same items on a range of online
  shopping websites
• Help carry out a survey to find out what people
  think of buying online and give a short
  presentation of our findings

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BronzeA home of your own

• Challenge
• Take part in an activity that helps me find out
  about the costs involved in living in a home of
  my own
• Possible Targets
• Help create a leaflet providing guidance for
  young people who want to rent property
• Produce a chart comparing the costs of various
  rental properties
• Produce a list of costs involved in sharing a
  flat.

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BronzeA home of your own. Targets.

• Draw a floor plan showing how to furnish a two
  bedroom flat
• Compare the cost of furnishing a flat using new
  and second-hand furniture
• Find out the cheapest way of replacing a worn out
  washing machine
• Find out what bills might me included and what
  bills would be extra when renting a property.

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Thank you from

• Michelle McCracken Pupil Lossiemouth High School.
• Rhea McKenzie Pupil Lossiemouth High School.
• Donnie Carthew Depute Rector Lossiemouth High
  School.
• David Millar C.L.D.W. Moray Youth Work Team.