From piggy bank to financial independence – Informed Financial Planning launches free videos for teens

Charlene Coulbeck with one of the animated films aimed at 11-16 year olds and their parents

DON'T know your interest rates from your APRs? The mystery of monetary terms is being unravelled in a series of short animated films for young people created by Informed Financial Planning.

Aimed at 11-16-year olds and their parents, it is hoped that the bite-sized approach to teaching the basics of finance will provide the knowledge and confidence needed when making the transition to financial independence.

The award-winning Hessle-based company came up with the idea in response to the lack of focus on the essential life skill in schools and the COVID-19 lockdown.

The 12 films can be accessed on Informed Financial Planning’s website in the COVID-19 resource section, cover topics ranging from the basics of bank accounts and online banking, to budgeting, credit, pensions and tax. They will be posted every Monday and viewers will be prompted to download a questionnaire at the end with an answer sheet also available for parents. 

IFP’s managing director Kevin Ferriby said: “It has long been an issue that very little emphasis is put on teaching young people the skills to look after their financial futures or to navigate the financial world of adulthood.

 “We hope that our free, short films provide a fun and straightforward resource for parents during the COVID-19 lockdown and have a positive impact young people’s understanding of the essentials in a range of financial matters.”

Jessica, head of marketing at IFP, said: “It’s not easy to get children to consider their future in financial terms but most would agree the basics of finances are not taught enough in schools despite it being one of the key things you need to know as you grow up. We really hope that our films go some way to helping.”

IFP was established in 2004 and offers a full range of financial planning services. It became the first firm in Yorkshire to achieve corporate chartered status, and in 2018 was named as Money Marketing’s UK Advisor Firm of the Year. It has also been recognised for three consecutive years by Professional Advisor as the UK Best IFA to Work For.

 ·       To see the latest videos, visit https://informedfinancialplanning.co.uk/covid-19-hub/

·       The company’s COVID-19 hub also has a ‘frequently asked questions’ section regarding investments, a fun area with a quiz and a video game, and a number of helpful webinars and articles on subjects such as help for businesses and investing in turbulent markets.