Boy Scouts launch volunteering program with HSBC UK to help more young people learn basic money skills

HSBC UK’s volunteer network is expected to reach more than 14,500 Beaver Scout Colonies and Cub Scout Packs across the UK over the next few years; this includes visiting weekly meetings and running one-day workshops in places such as the West Midlands.

The new volunteering program comes after the Boy Scouts worked with HSBC UK to develop the Money Skills Activity Badge; More than 150,000 young people have earned the Money Skills Activity Badge since 2021 through the first-of-its-kind event.

Natalie Gregoire-Skeete, HSBC UK Head of Sustainability, said: “Contactless, digital and mobile banking is increasing the invisibility of money, making it more difficult to build young people’s financial confidence; In fact, research shows that more than half of children ages 6 to 10 say they don’t understand money.

“Financial skills are life skills and by working together we can deliver engaging, high-quality sessions that will give more young people the opportunity to earn their money skills badge and develop financial skills for the future.”

Speaking at the launch, Georgie Howarth Program manager for the Scouts-HSBC UK volunteer program said: “When we launched the Money skills badge in 2021, we knew we were meeting a significant need in young people’s development and this volunteering program meets that need.” Taking these skills to another level.

“Having a network of 200 talented and enthusiastic HSBC UK volunteers working alongside our Scout leaders across the UK gives us the opportunity to help young people better develop these essential life skills. This means that where Scout leaders are not confident in their subject knowledge, they can work with them by drawing on the local expertise available in their communities, and young people will not miss out on this opportunity.

“With the support of HSBC UK, we have been able to create a volunteering program that is truly the first of its kind, offering an important new way to pass on these skills to tens of thousands of young people.”