Hinckley & Rugby has presented finance tips to young care leavers in Leicestershire and Rutland as they learn how to live independently.
The Society’s chief executive Colin Fyfe, branch and agency support officer Tracey Ingram and HR assistant Donna Lloyd took part in one day of a three-day living skills session run by the business volunteering charity Leicestershire Cares for around a dozen young people aged between 16 and 21.
As well as Hinckley & Rugby’s advice on managing money, the young people also tackled healthy eating and other aspects of setting up and living in a new home.
Charlotte Robey-Turner, head of children and young people at Leicestershire Cares, said: “These sessions are in response to young people telling us they don’t feel they have the skills they need to make a successful transition into living independently.
“In particular, young care leavers can find it hard to manage their finances and budget for a household, so we are delighted that Hinckley & Rugby could join us in delivering this much needed advice and support.”
Colin, Tracey and Donna covered topics including the differences between banks and building societies, budgeting, wages, tax, credit cards, loans, saving, protection against fraud and the practicalities of opening an account such as application forms, identification and understanding terms and conditions. Colin said:
“There were lots of questions so we had a really good and productive time. They hadn’t really heard about building societies and how we help people save and borrow to buy a home, so it was good to tell them about our heritage and also how we are here to help them today.”
Tracey said: “The young people were particularly interested in budgeting and how to save each week so they could pay monthly bills. They got a lot out of the session.” One of the young people said: “The session was really useful. I really enjoyed the activities.”