Encouraging Youngsters to Save for their Future
With the average age of first-time buyers now around 37, according to recent research by MoneySupermarket, there’s never been a more important time to teach youngsters about the importance of building a strong financial future.
We are continually coming across young people who are desperate to buy their own home but just don’t have enough for a deposit. And whilst there are certain ways in which we can help them, the stringent requirements from the majority of lenders today mean it’s much easier for them to get a mortgage if they have a substantial deposit in place.
In order to help our young people develop a good understanding about being responsible with money from an early age, we’ve launched a fun and interactive campaign called “Save Your Pennies and Build Your Future”.
Members of our team are visiting a number of schools to undertake an interactive presentation with 9-11 year olds. We’re looking to encourage children to think about how they use their pocket money and the value of specific items relevant to them such as a packet of crisps, a Nintendo DS or an Apple iPad; and they will then be inspired to consider how these costs compare to the bigger purchases in life such as a car or a house.
Each child who takes part will receive an activity pack, taking the messages around values and deposits further with problem solving and role play exercises to continue their learning following the session. Additionally, they will also receive a Miller Homes money box house to help kick start their savings.
We’ve had a great response so far from the schools who’ve been involved and we look forward to continuing this support over the coming months.