Ways to save money

This activity pack explores different ways that young people can save money and reduce spending whilst living independently. Participants will also have the opportunity to follow the stories of two young people, helping them consider practical tips on how to reduce spending and help with independent living.

Learning outcomes

By the end of the lesson, participants will be able to:

• Understand the importance of saving money and types of items that are worth saving for
• Consider how making a conscious effort to save up money can help with independent living
• Identify a number of useful ways to save money, including taking a ‘little and often’ approach to putting money away, as well as having savings accounts or apps
• Consider the ways in which they can save more and by reducing expenditure
• Demonstrate how to devise a plan with hints and tips for their own saving goals

To access worksheets for all twelve activity packs in one place, use our ‘Setting yourself up for financial independence’ workbook.

Other LifeSkills lessons are also suitable for use with care leavers to support them on their employability journey, here are some to get started with:

• Aiming high (proactivity)
• Tailoring your CV and using networks
• Interview success

As a signatory to the Care Leaver Covenant, LifeSkills created with Barclays have worked directly with young people who have experienced care as well as the adults supporting them to create twelve activities adapted from existing financial education content. Activities include case studies, quizzes, discussions and practical tasks to build skills, knowledge and confidence, and can be delivered one-to-one or in a small group. Each pack includes guidance for support workers, worksheets for young people and useful signposting. Young people can register on LifeSkills to access further interactive resources on managing their money and building skills for the world of work here barclayslifeskills.com/young-people.