SCHOOL students across Cork are to learn how to budget and mind their money this month.

South Munster Money Budgeting and Advice Service (MABS) will deliver workshops in schools around Cork and Kerry as part of Global Money Week 2023, which takes place from March 20-26.

Global Money Week’s 2023 theme is ‘plan your money, plant your future’, which MABS advisors will deliver through a lesson plan focused on helping young people develop managing their money as a life skill.

The contents of the lessons were developed following the results of a MABS survey which revealed that 96 per cent of young people surveyed feel it is important to talk about money, and 40 per cent are learning about money through social media.

South Munster MABS is keen to ensure that young people receive the correct advice and can develop their money management skills that will support them in their lives. Key objectives for the workshops including distinguishing between spending needs and wants, implementing a savings goal and differentiating between different types of credit.

Regional Manager for South Munster MABS, Ursula Collins, said, “with so much information available today, education on money management has never been more important and the earlier in life this begins, the greater impact this will have on young peoples’ financial futures.

“We want to ensure that students begin to develop their money management skills in school. By providing them with the knowledge and tools to budget, to spend wisely and to set realistic savings goals, it will help them secure their future and gives them key financial knowledge which will stay with them well into their adult lives.” 

The workshops will cover a host of topics from spending priorities to the principles of budgeting, fraud, and the dangers of ‘buy now, pay later’, gambling and the reasons why people might borrow money.

Each part of the workshop aligns with Global Money Week’s slogan of ‘Learn, Save, Earn’ and their message to empower young people to manage money wisely and sustainably.

Global Money Week is an annual global campaign focused on building financial awareness in young people by educating them on skills needed for sound financial decision-making. The initiative sees education, business and finance organisations worldwide provide events and workshops to young people.