MyBnk is a charity that offers financial education to schools and youth organizations. And it is that young people can learn, through MyBnk, how it works and how savings, budget, finances, etc. are handled. The organization consists of teachers, social workers and people who have worked in the financial sector and train young people through fun and interactive financial programs.
further MyBnk also offers business experiences using real money, and trains young people to run their own savings and loan school using the Internet.
Although the initiative, led by Lily Lapenna, is focused on Great Britain and it seems that no proposal has arrived in Spain, MyBnk admits the option of expanding borders and taking its program to other countries. Lily concluded that MyBnk was going to be a good idea when at school she discovered her lack of finance training that became more acute when she worked on social initiatives in Zimbabwe and Bangladesh in which microfinance was fundamental. And it is that thanks to microcredits many business ideas get ahead in these countries, so Lily believes that it is a very interesting way to lead initiatives of prosperity and learning. Thus, on that idea and to promote knowledge among children, he created MyBnk in 2007 and has already trained more than 40,000 children.
The desire of Lily, in the image, is to combat financial illiteracy from an early age. And with MyBnk the children they learn from the age of 11 to make a budget, to know what the minimum wage is and to become familiar with the concept of saving. In addition they will also learn interest, credit, debt and many more financial terms. The challenge for MyBnk is to ensure that each child can build their future, with initiative, taking risks, learning to manage their ideas and their debts.
Lily Lapenna has also told her experience in TED where with very clear messages about the effect of financial illiteracy It shows that your training initiative can succeed if you start learning early:
Any training initiative for kids seems very appropriate and although in Spain we have the site Finance for all, I think there is a lot of experience especially to facilitate the creation of business culture and minimize the impact of failure as well as relativize success.
