Guernsey students given a valuable lesson in looking after their finances

Looking after the Pennies

Gower Financial Services has recently started a series of presentations at island schools to help students better plan their finances, as part of an introduction to the everyday financial services they will start to use once they have left school.

The first presentation was to the Grammar School Sixth Form, just before the island’s return to lockdown, with further presentations planned at other schools as soon as it is practical to do so.

Aimed at 6^th Form students, the team from Gower was keen to cover important aspects of ‘managing your money’, including banking, borrowing, saving and investing. And to encourage students to start getting into good habits, such as debt repayment, creating a realistic budget and allocating disposable income at a young age.

‘When it comes to managing money, it is so important to have a plan – and it’s never too early to start one. Although these students are still in full time education, if they can create good habits now, there is a real chance they will continue them into their adult life, which will undoubtedly benefit them financially over the long term’, explained Financial Adviser Paul McCormick, who was part of the Gower presentation team, along with Susie Brown and Jean Pierre Payne.

The Grammar School’s Sixth Form Manager, Mr Rod Jaget, was enthusiastic about the presentation.

‘Money management is an essential life skill, so these words of wisdom have been gratefully received. The beauty of this presentation was in its ability to talk at the right level, providing useful examples and tips, including the ‘Penny Challenge’, to really bring home the familiar phrase, ‘If you look after the pennies, the pounds will look after themselves!’

For further information please contact Paul McCormick: [email protected]