We’re very excited to announce our new campaign, Words that Count, which aims to boost the financial literacy and understanding of 800,000 young people living in and around Greater Manchester.
Across the country, youth unemployment has risen to the highest rate since 2016, as 596,000 people aged between 16 and 24 are unemployed. We’ve teamed up with Manchester residents and Love Island stars Danny Williams, Tom Walker and Biggs Chris to support young people affected by the COVID-19 pandemic.
Words that Count initially launches in Greater Manchester, delivered by our Hub Read Manchester, but all the material is free for everyone to download online.
Our research shows there’s a clear 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%).
Young people can access advice on topics including first jobs, paying bills, managing money and council tax on Words that Count. We want to give people the confidence to understand words in everyday situations that will allow them to make good financial decision and understand support is out there, whatever their situation.
Words that Count is part of Experian’s United for Financial Health programme, which hopes to support the financial recovery and wellbeing of young people affected by the pandemic. It is also backed by the Money and Pensions Service.
Our United for Financial Health programme will reach 15 million people before the end of March. The National Literacy Trust’s ‘Words that Count’ project is our first launch that specifically targets a younger audience and we are proud to support this essential work. 16-to-24-year-olds have been one of the most heavily impacted age groups since the start of the pandemic, underlining the importance of providing this targeted support. We look forward to seeing the impact of this excellent new campaign.James Jones, Head of Consumer Affairs at Experian
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.Councillor Luthfur Rahman OBE, Executive Member for Skills, Culture and Leisure, Manchester City Council