41% of women who’ve experienced domestic force have also suffered financial abuse and Refuge has found that in many cases, victims question their ability to cope financially. Often this means that they feel unable to leave abusive relationships. Ensuring that young people are financially literate could prevent them from getting trapped in the same cycle of abuse.
Ask a local youth group about whether they deliver any financial education to their young people. You could contact Scout groups, Guide groups and Woodcraft Folk groups in your local area. Find a template letter here.
Write to a youth organisation to ask if they will include financial training as part of their curriculum through badgework or other educational activities. Find contact details for the relevant people for Scouts, Guides and Woodcraft Folk. Can you provide a template letter for this campaign? Email firstname.lastname@example.org
If you get a response, please let us know at email@example.com.
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This campaign was developed at a workshop held at Labour Party Conference in Manchester in September. Wondering what the grid means? Click here to find out.
Background brief: Why are we campaigning on this issue?
Youth organisations such as Woodcraft Folk, the Scouts and Girl Guides have access to hundreds of thousands of young people across Britain and are in a position to be able to teach children and young people about personal finance and the advantages of Credit Unions. People with less economic independence are more vulnerable to economic abuse and improving financial literacy could help tackle the number of people at risk of economic abuse.
- Nearly half of 16 to 25 year olds name debt as their biggest fear but financial literacy education is not a statutory requirement for people of any age, although organisations such as My Bnk and pfeg are demonstrating that teaching young people about personal finance, banking, saving and enterprise is fun, interesting and incredibly valuable.
- 1 in 20 teenagers do not think that you have to pay Credit Card debt back at all.
- Women often have less financial freedom than men for various reasons: Women’s incomes are lower than, and fluctuate more than men’s; gendered roles create gendered spending and saving priorities; women rely financially on male partners; and women are typically more risk averse