Bath Building Society hosts financial education workshop at Somerset Studio School
Bath Building Society has hosted its latest financial education workshop at the Somerset Studio School.
The workshop – which took place on 15th May – covered Saving, Investing and Tax which included asking Year 10 pupils to think about the difference between saving and investing, the different ways available to them to save money and a detailed session on the different forms of tax in the UK. Attendees learnt that the average wage earner will pay £1m in tax over their lifetime and that even if you are a three-year-old Tiktok star you still need to pay tax on your earnings.
To provide the workshops, the Society partners with WizeUp Financial Education, a charity dedicated to equipping young people with essential financial skills for adult life. Over 2024 the Society; through WizeUp, taught 1,524 students, over 2,777 hours in 55 workshops. All state schools in BANES have taken part in the free workshops and have on average eight one hour sessions throughout the educational year, or a full day once a year, with a wide range of financial subjects on offer.
Richard Ingle, Chief Executive Officer at the Society, said, “We’re proud to support the local community delivering financial education workshops to local schools and sixth forms, with thousands of local students benefiting from the programme each year. We work with the schools to tailor content to individual needs including separate sessions for parents to help them navigate University finance.
“Our schools need more support to deliver financial education which isn’t currently adequately provided through the national curriculum.”
Bath Building Society (BBS) was established in 1904 to offer savings and mortgages to the local community. Today, while it is still considered a small mutual society, it continues to operate successfully, servicing over 20,000 savings accounts, 1,200 mortgage customers and employing over 85 staff. BBS maintains a small, local Branch infrastructure in and around Bath.
Pictured above: (left to right) Mike Flack from WizeUp, Richard Ingle from Bath Building Society, students from the school x 3, Lee Giles from WizeUp
