To mark the start of the academic year, Punter Southall Aspire is helping students improve their financial wellbeing by sponsoring The Student Money Manual, a yearly publication from The Money Charity, the UK’s financial capability charity. This sponsorship will enable 15,000 students across the UK to receive this resource for free.
The Student Money Manual is the essential guide to managing money at university and is designed to help students better manage their finances. It is full of relevant financial topics including student loans, paying rent, ideas for earning an income at university and how income tax works, as well as tips for spending less and saving more to help them create good spending habits for the future.
A recent survey[i] by NatWest highlighted that students find managing their money stressful, with almost half (43%) saying they had run out of money by the end of the semester, and one in three (32%) using their overdraft to cover their rent and household bills. According to Government figures[ii] the average debt among students who finished their courses in 2018 was £36,000.
Steve Butler, CEO at Punter Southall Aspire said,
“Helping students get on top of their finances is vital. This is often the first-time people have left home and had to live on a budget. Worrying about money can cause unnecessary stress, which can have a detrimental effect on studies and mental wellbeing. The Student Money Manual is full of useful information and practical suggestions that will encourage people’s good financial habits that will serve them well into the future.”
Punter Southall Aspire’s employees are also supporting The Money Charity by volunteering to run financial wellbeing workshops for community groups across the UK to help more people to get on top of their finances and achieve their financial goals. The workshops will be held in settings including prisons and soup kitchens. Volunteers will receive expert training from The Money Charity and will be required to run at least three workshops a year around their working schedules and location.
Steve Butler adds,
“Our goal is to change the way people think about their savings and to improve their financial wellbeing. Working with the The Money Charity, our staff will be helping all generations to build their financial skills and knowledge, ensuring they can make the most of their money throughout their lives.”
For more information on Punter Southall Aspire visit: www.psaspire.com.