“Wise use of ones resources will keep one from poverty” –proverb
When it comes to effective financial education, some of the old sayings remain the best.
Your grandmother might have told you to “Measure Twice and Cut Once.” The older you get the more you find yourself thinking, “Yes. Pennywise and Pound-foolish. Absolutely true”.
NASMA agree with the sentiment. In our work providing advice to students, we see the importance of planning ahead when it comes to managing money. And how this can sometimes be the difference between financial struggle and financial serenity.
Why Waste Not Want Not?
NASMA chose this theme because savvy thriftiness (not austerity; there is a difference), appears to be back in vogue with the younger generations. Knitting circles, preserving and growing your own vegetables. Its all cool again, and we think there are lots of creative and engaging ways to relate current student concerns with some cautionary parables from the past to help support them make better informed money choices.
One of the most exciting parts of NSMW is the ways in which NASMA can take the opportunity to connect and collaborate with other organisations to elevate our message. The partnerships this year include Which? University, Student Grub, Blackbullion, Love Food Hate Waste and the Money Advice Service. We have developed our social media platforms and created new ones to share our theme relevant events through pictures, online competitions and mutual messages. Everyone can support the campaign by retweeting our #nsmw17 tweets or following nsmw17 on Instagram.
Our Universities and Colleges will be using the week to host swap shops, information sessions, themed debates, online campaigns and budgeting sessions. Some of our supporters will be on campus to speak directly with students, providing guidance ideas and freebies. There will be food bank collections, water saving challenges, daily blogging and food waste saving competitions. The SLC will be hosting daily Student Room discussions with members of NASMA. Blackbullion have provided resource packs for campuses and most of our supporters have contributed tips and ideas.
We want to use NSMW17 to encourage young people to think about taking a proactive approach to financial capability. Working within a limited budget is about awareness as well as watching the pennies. And this extends to thinking outside the box. By being more conscious about spending less, we are inviting them to think of more inventive ways to live. Spend less, consider the environment and think about the impact of how we consume on all resources. And the huge differences we can make when these are reduced through the smallest of acts.
There is such a plethora of subjects that can be explored: from food waste to recycling. Up-cycling to sustainability. We hope you agree that this is NASMAs most ambitious National Student Money Week yet.
So can you stand up and say “Look after the pennies and the pounds will look after themselves”? Join us and throw yourself wholeheartedly behind this effort!
Chair of Financial Capability and Research Working Committee (NASMA)