After witnessing firsthand the effects the coronavirus (COVID-19) pandemic has had on both individuals and businesses, newcomer Panda has launched to help tackle the stigma surrounding money matters. Built by a team of financial advisers and academics from Cardiff Business School, the social enterprise is on a mission to help improve levels of financial education in the UK today by harnessing the team’s years of experience in financial services.
According to the Money Advice Service, 47% of adults in the UK today do not have a financial plan that covers the next five years, with 21% admitting to rarely saving. The purpose of the service is to help provide a holistic learning experience and boost peoples’ confidence when discussing financial topics; going far beyond the typical “spend less and save more” mantra.
Learners will be able to access the service and begin developing their knowledge at their own pace. Whether their goal is to understand how to avoid being a victim of financial crime, or to begin managing their investments online, the information provided aims to help those in different stages of their lives move closer to achieving their lifestyle goals.
Currently the UK government is attempting to incorporate financial education into the National Curriculum, however this is not of benefit to most who were not offered this learning experience during their time at school. Panda seeks to bridge this gap by making its service interactive and community-led to reach maximum impact and engagement.
Education within this realm is a proactive way of helping people understand their options and be confident in their ability to know when to take action. The knowledge acquired in most parts can provide lifelong learning benefits – making it useful to adults of any age.
After securing match-funding totalling £10,000 to help with the development costs of the project from a private source, Panda is seeking a further £10,000 in crowdfunding to help get the idea firmly off the ground. With the long term economic implications of the coronavirus yet unknown, we believe now is the time to proactively help those in need of guidance, and develop a platform by which individuals can become more savvy about money matters.
For more information, visit www.joinpanda.org.
To donate, visit Panda’s crowdfunding page on www.crowdfunder.co.uk/pandauk