Citizens Advice North Staffordshire recently welcomed Minister Andrew Western and local MP Adam Jogee to Keele in Town, our recently established outreach centre, to discuss the critical importance of financial capability, early money education and our latest efforts to combat fraud. We explored how early intervention in financial education can better assist the next generation to understand complex financial issues and to help build knowledge for the future. Local students shared their concerns about a lack of knowledge around credit cards and borrowing and the lure of Buy Now, Pay Later finance schemes. The Minister said “It was fantastic to see the great work that Citizens Advice are doing to improve financial education for all, including enabling people to recognise scams and getting young people financially literate – a key skill for their futures.”
Prioritising Early Financial Education
Katie Underwood, Head of Money Advice, shared insights from our ongoing initiatives aimed at introducing money management concepts to young people. Our Money Advice service received investment of £60,000pa enabling us to deliver a 3 year project at a total cost of £180,000. Clients saw £1.5 million in actual financial savings, with potential financial savings of £4.3 million across the 3 years. The conversation focused on breaking down systemic barriers to financial literacy and ensuring communities have access to the tools required for long-term financial health. Katie said “It was really refreshing for our visitors to not only listen to the struggles, views and ideas of us as professionals but more importantly, they had a genuine interest in those of our clients and students. We hope that working together we can make a real difference to our local community.”
Tackling Fraud Head-On
The visit also served as an opportunity to highlight our recent fraud prevention project in Staffordshire Moorlands. The project goals were to support vulnerable groups with identifying emerging trends that scammers may use and also educating people on how to stay safe. The Minister praised the project’s proactive approach to protecting residents, specifically against scams targeting the elderly. CEO Craig Browne said “The meeting provided the perfect opportunity for us to make Andrew and Adam aware of some of the challenging issues our clients are currently facing, particularly high levels of personal debt linked to the costs of living as well as some of the work we have been doing to support victims of online fraud and scams.”
Adam Jogee MP added “I was keen for Minister Western to see the fantastic work that the Citizens Advice Bureau does for people across Newcastle-under-Lyme and beyond. It was particularly valuable to hear more about their fraud awareness project and it was wonderful to hear about the significant and positive impact that the project has had in terms of helping to keep our communities safe. It was also fantastic to hear directly from young people about the challenges that they face when trying to navigate financial independence for the first time, and to ensure their voices were heard by the Minister, so their perspectives can be taken right to the heart of government. Visits like this are incredibly important in helping Ministers understand the real-life experiences of the people and organisations making a difference every day. There are significant financial and social benefits to supporting and expanding this work, and I will continue making that case to colleagues across government.”