JA and HSBC Help Youth Develop Financial Capability

JAYE Malta has been selected by HSBC Global for inclusion in the new JA Worldwide project – Building a Financially Capable Generation.  JA and HSBC have worked together for 11 years to help more than 687,000 young people in 50+ countries gain the skills that they need for the future. This initiative is directed toward young people ages 12-16 and will consist of five sessions led by HSBC volunteers through gamification to deliver understanding around financial literacy, financial capability, and what the differences are.

What Is Financial Capability?

“Financial capability is the combination of attitude, knowledge, skills, and self-efficacy needed to make and exercise money management decisions that best fit the circumstances of one’s life, within an enabling environment that includes, but is not limited to, access to appropriate financial services.” Guy Stuart, Ph.D. Executive Director of Microfinance Opportunities and leading expert in Financial Capability

Following participation in the programme, students will have better Financial Capability by recognizing how attitudes and beliefs impact their ability to make money management decisions that fit their life circumstances. They will also increase their knowledge, skills, and experiences with money to promote self-confidence and a belief they can act according to their interests, as well as seeing the value in managing money proactively.

How will the programme be delivered?

The sessions will be led by HSBC volunteers through the use of a custom made financial capability app.  This app will be a game based educational resource that allows students to practice concepts around financial capability in a fun, safe, game-based environment. Research shows that game-based learning is a growing movement among educators as it promotes creatively and when learning becomes fun, young people are quicker to engage and therefore benefit more. There will be a total of five sessions, spread over six hours, each with a different learning objective.

“Through this project, we are reaching youth at an age when their knowledge, attitudes, and behaviors can be shaped in a way that will benefit them positively for the rest of their lives. We are doing this because we believe that financial capability and the resulting economic resilience can — and must — be taught to every one of the planet’s two billion young people. By partnering together, we intend to build a financially capable generation, better prepared for whatever comes.” Alison Coates, Global Head of Future Skills at HSBC, and Brandie Conforti, Global Chief Development Officer at JA Worldwide

Want to find out more about JA Worldwide and HSBCs views on Financial Capability and Economic Resilience? Click here to find out!

This programme is free of charge for both the school and students. Students can apply directly through their own schools, who will then coordinate with JAYE Malta. If you are a school who are interested in this programme, or you would like more information, please email hello@jayemalta.org no later than 3rd February 2021.

Together we can build a financially capable generation.