The National Literacy Trust launches Words that Count, a campaign to boost the financial literacy and understanding of 800,000 young people living in and around Greater Manchester. The campaign is delivered by Read Manchester, the National Literacy Trust’s partnership with Manchester City Council, and forms part of Experian’s United for Financial Health programme, which hopes to support the financial recovery and wellbeing of young people affected by COVID-19.
Across the country, youth unemployment has risen to the highest rate since 2016, as 596,000 people aged between 16 and 24 are unemployed.
To support a growing number of young people with financial concerns, Words that Count will deliver a series of videos and interactive sessions that aim to empower young people with financial literacy. The campaign will share advice on topics including first jobs, paying bills, managing money and council tax, available for free on wordsthatcount.org.uk.
National Literacy Trust research shows the relationship between someone’s literacy and financial capability. Children and young people who have good reading skills are four times as likely to have good financial skills than their peers who have poor reading skills (35.6% vs 8.8%). What’s more, children and young people who have poor reading skills are four times as likely to also have poor financial skills (56.3% vs 12.3%).
Jonathan Douglas CBE, Chief Executive of the National Literacy Trust, comments:
“Our research highlighted the clear and urgent relationship between someone’s reading and financial abilities. In Greater Manchester, a soaring number of young people are facing immense financial pressure and difficulties. Words that Count aims to give people the confidence and competence to understand words in everyday situations that will allow them to make good financial decision and understand support is out there, whatever their situation. This support is also available online for young people across the country.”
Councillor Luthfur Rahman OBE, Executive Member for Skills, Culture and Leisure, Manchester City Council, says: “Our longstanding partnership with the National Literacy Trust has been a real benefit for children and young people in the city, with the successful Read Manchester campaign promoting the crucial life skill of reading, for pleasure, for education, for all.
“This new Words That Count initiative, with its focus on financial literacy, aligns perfectly with our ongoing efforts to ensure that the city’s young people develop strong Skills for Life, which will help them go on to succeed and thrive in adulthood.”
To view the first video in the Words that Count series and resources, please visit: Wordsthatcount.org.uk.
