Latest news with #MoneyandPensionsService
South Wales Argus
29-05-2025
- Business
- South Wales Argus
Average wedding guest spends nearly £700 on celebrations
The Money and Pensions Service (MaPS) found that each guest averages a spend of £692, including travel and accommodation, new clothes, and presents. Most guests attend three celebrations annually, accumulating costs of more than £2,000. This expense is significantly higher for people aged 25 to 34 who attend six celebrations per year, with their costs rising to nearly £4,500. In Wales, the strain of these expenses is no less significant. Wales manager at the Money and Pensions Service Lee Phillips said: "Attending a wedding or civil partnership can put a strain on your finances, as the cost of gifts, travel and accommodation, new outfits, and childcare can really start to add up, especially as celebrations can go on for 2-3 days. "To support managing your money around expensive milestones, use MoneyHelper – particularly ahead of the spring and summer which is considered the peak season for these celebrations."
Wales Online
26-05-2025
- Business
- Wales Online
The free NatWest workshops empowering you to take control of your finances
Most of us will remember the excitement of a visit from the tooth fairy, or the thrill of cash in a birthday card as a child. Our relationship with money starts at a young age and becomes more important than ever when we are adults. From getting your morning coffee on the way to work, to saving up to buy your own home, understanding the importance of finance and how it plays a part in your everyday life is essential. And it's never too late to put the right foundations in place or build on your existing knowledge. Learning doesn't have to stop - even if the birthday card money usually does. According to research conducted by the Money and Pensions Service , millions of people struggle with money management and face financial difficulties on a daily basis. Around 45% of adults don't feel confident managing their money, 1 in 6 have no savings, and 4 in 10 18–25-year-olds need debt advice. NatWest supports more than 19 million customers throughout the UK, whether they are buying a home, setting up a business, scaling one, or investing their money. More than just a place to withdraw and deposit cash, the banking group aims to build everyone's money confidence and security, focussing on growing with customers as a trusted partner who can meet their changing needs. As one of the UK's biggest banks for business, NatWest helps businesses of all sizes to grow and thrive through a range of programmes and services, including its free Financial Foundations workshops which cover topics ranging from first payslips to protection from fraud and scams. Money worries are the biggest cause of stress for UK workers with 8 in 10 employees taking their concerns to work, which can negatively impact attendance, productivity and performance. Available for businesses, organisations, and community groups, NatWest's Financial Foundations workshops are designed to build financial resilience and empower adults to take control of their money and future. There's helpful, impartial guidance and content for everyone who is earning or managing money, no matter what stage they're at and regardless of their current financial knowledge. 'We wanted to empower them with essential life skills' More than 600 training workshops have taken place across the UK to date, with over 12,000 adults benefitting from the free guidance and insights. One organisation that chose to take part in the workshops is Cardiff and Vale College (CAVC), which offered the training to its adult learners. One of the largest colleges in Wales, CAVC provides a wide range of courses, apprenticeships, and training opportunities to students of all ages. Understanding the need for students to be well-equipped in the world of money, the college decided to participate in the NatWest Financial Foundations workshops. Speaking about the decision to reach out to NatWest, Valeria Gyurovicsova, CAVC progress coach coordinator, said: "We are committed to delivering high-quality education that equips students with the skills and knowledge needed for further study, employment, and life beyond college. "Our diverse and inclusive environment fosters personal and professional growth, ensuring students are well-prepared for future careers. "Our relationship with NatWest started through our engagement in financial education initiatives. While we are not banking customers in a traditional sense, we value NatWest's expertise and resources in financial literacy. Their support in delivering workshops and resources has been instrumental in helping our students develop essential money management skills. "We were introduced to Financial Foundations by our business development manager, who connected us with NatWest's regional director in January. After learning about the programme, we saw a great opportunity to provide our students with essential financial skills to support their transition into work or further education. "The programme aligned perfectly with our commitment to equipping students with practical life skills." (Image: NatWest) Hoping that the workshops could provide students with better financial knowledge to use in everyday life, Valeria continued: "Our main goal was to provide our students with fundamental financial knowledge, including budgeting, banking, and understanding payslips. "We wanted to empower them with essential life skills to help them manage their finances effectively, make informed financial decisions, and build confidence in handling money - whether they are entering apprenticeships, employment, or higher education. "We plan to integrate the knowledge gained from the workshop into our tutorial sessions and student support services. Our tutors will reinforce key financial concepts through discussions, activities, and real-life scenarios to ensure students can apply what they've learned. "We also hope students will take these lessons forward by developing good financial habits, becoming more financially independent, and feeling more prepared for their future careers." The workshops cover all areas of finance, from money basics such as borrowing and budgeting, to how to avoid potential scams and protect against fraud. When asked if the college would recommend the NatWest Financial Foundations workshops to others, Valeria said: "Financial literacy is a crucial life skill that is often overlooked in traditional education. "The Financial Foundations programme delivers practical, engaging, and accessible financial education that equips students with the tools they need to manage their money confidently. It's an invaluable resource for both students and educators. "I would say that financial education is not just about numbers - it's about empowering individuals to make informed decisions that will impact their future. "The Financial Foundations workshop provides essential knowledge in an engaging and practical way, making it a worthwhile investment in the long-term success of students, employees, or community members." To find out more about Financial Foundations, please contact or visit NatWest's website.
