HSBC brings in big change for customers born in these years due to 'worry'

HSBC has launched new money confidence badge and activities for girls aged 4-18. New research reveals that more than a third of girls say they don’t feel confident that they are good at managing their money, the high street bank has found.

HSBC UK and Girlguiding will also provide training for Girlguiding’s 80,000 volunteers, teaching transferable money skills that can be used to support the running of Girlguiding units and in other areas of their lives at home or at work.

Angela Salt, CEO Girlguiding said: “Research tells us girls want to develop skills in money management but are not getting enough opportunities. We want to change this so that we can empower girls to feel more confident about financial management, a skill that they can use long into the future.

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“With HSBC UK’s support, we’re able to help girls from our youngest members in Rainbows aged four, right up to Rangers aged 18, to learn the skill of financial literacy in a fun, engaging and practical way through our resources and new badge."

The four new fun and practical activities have been specifically co-designed for each of Girlguiding’s sections and will sit within the charity’s ‘Skills for my future’ theme of its programme. ‘Rainbows coin collectors’ for girls aged 4-7 years, ‘Brownie points Bonanza’ for 7-10 years, ‘Money talks’ for Guides 10-14 years and ‘Track the cash’ for Rangers aged 14-18 years.

The activities, designed to be completed either in Girlguiding unit meetings or at home with parents and carers, start from age four following industry research that children’s financial habits are formed by the age of seven. Ian Stuart, Chief Executive, HSBC UK said: “Financial skills are life skills, and creating new and interesting ways for young people to build financial confidence both inside and outside of the classroom is key. By working with partners such as Girlguiding, we can help more girls and young people grow up feeling prepared and empowered to take control of their financial futures.”

Hannah, 17, Girlguiding Advocate said: “Girls are increasingly worrying about money and their futures. Talking about money still tends to be taboo and not something openly discussed. Yet learning about money from a young age is so important to enable us to make informed decisions when we get older. I can’t wait for these new activities to launch, empowering girls and young women across the UK with the tools to become money confident for the future.”