At Mental Health UK, we developed our Me & Money programme to respond to these concerns. Now, in collaboration with Money Ready, we are delighted to be launching two brand new workshops co-produced with young people – Debt and Mental Health and Navigating Digital Finance – to ensure we can support young people more comprehensively than ever. This partnership builds on Me & Money’s innovative foundation as the only programme in the UK designed specifically to support young people with mental health and money.
Why we created the new workshops
When we piloted Me & Money in 2023, young people told us that what they wanted most was to develop confidence around money, not just practical tips. They wanted to feel more in control of their money and emotions, to understand why money can make them feel anxious, to learn how to make financial decisions, and to be able to talk about money without fear or shame. Our discussions with Mental Health UK’s Mental Health & Money Advice team reinforced this need – younger and younger people are getting into debt and reaching out to their service for help, often only reaching out once problems have escalated; for example, after falling behind on payments or taking on credit they do not understand.
The new workshops aim to prevent young people getting into these challenges in early adulthood and build financial resilience, giving them the tools and mindset to make confident, informed choices.
What the new workshops contain
Debt & Mental Health explores how understanding emotional responses to money – from shame and avoidance to social comparison – alongside practical skills like budgeting can prevent young people getting into the trap of debt. It helps young people understand why financial stress can feel overwhelming and the vital importance of facing these feelings rather than avoiding them. Importantly, it shows that financial difficulties can be managed, and that support and strategies exist to help. The dangers of Buy Now Pay Later (BNPL) services are also explored.
Navigating Digital Finance confronts the detached and often highly addictive psychology of digital spending for young people, exploring the role social media can play in allowing spending to get out of hand. It also addresses other online financial hazards such as scams and sneaky subscriptions, supporting young people to better understand how digital environments can affect their emotions, confidence, and decision-making around money.
– Young people who co-produced these new workshops“When I pay with Apple Pay, it feels like Apple is paying. I regret it after.”
“It is easier to become a shopping addict now because it is easier to buy things. In person you have to go from shop to shop and there is a more physical engagement whereas online, everything is kind of handed to you … I’ve seen a lot more people say that they have a shopping addiction or something like that, but it also isn’t something that’s taken seriously.”
Both workshops are grounded in young people’s lived experiences and emerging evidence on their financial education needs. [3] They provide essential financial literacy skills, but go further in addressing how thoughts and feelings play a significant role in shaping our relationship with money throughout life, helping young people to build awareness, confidence, and financial resilience.
Collaboration and innovation
While a range of financial education programmes and services already exist in the UK, cross-sector collaboration remains rare. [4] We are therefore delighted to have developed these workshops in collaboration with Money Ready, combining their keen financial education insights with our established expertise on mental health and resilience to create a unique financial education offering.
A bigger, more inclusive offer
With four workshops now available, Me & Money has grown into a comprehensive offer for schools and community groups. It reflects the real-world financial challenges young people are experiencing, particularly those facing financial hardship.
– Charlotte Baldwin, Head of Young People’s Programmes“With money continuing to drive anxiety in young people and increasing numbers of working age young people struggling to stay in work and manage their finances, there is a clear need for nuanced financial education which is capable of addressing both the complex economic challenges facing young people and the mental and emotional toll these challenges can take.
Supporting young people to talk about money and understand how it can affect them is just as vitally important as providing them with the knowledge and skills to practically manage their finances. This collaborative initiative with Money Ready breaks new ground in bringing the two together. It has been a joy to work with – and learn from – their dedicated team and we look forward to seeing how the new workshops can make a difference to the young people our organisations support.”
Are you interested in supporting young people to build healthier relationships with money?
Learn more about how we can deliver Me & Money in your school, youth organisation, or community group.
