Scouts launch first-ever financial education badge for Beavers and Cubs

We’re excited to announce the release of our brand new Money Skills Activity Badge for Beavers and Cubs – our first new badge in more than three years.

As Scouts, we’re used to dealing with money. We fundraise for charities, budget for camps, and raise money for jamborees as part of everything we do to build skills for life. Now, we’ve developed badges that focus on fun, active ways foryoung people to build their money skills.

This isn’t a new idea. Between 1916 and 1925, Scouts could earn the Thriftyman Proficiency Badge, which was all about the importance of practising saving from a young age. Today, we’re taking it a little further. We’re exploringhow our money choices can benefit our community, learning about how different people use their money, and having plenty of fun with hands-on activities.

“Don’t expect to become rich all at once. To get to big things you have to begin with little things, just as before you grow to be a big adult you must be a small child.”

Wolf Cubs Handbook, 1916

The Money Skills Activity Badge, supported by HSBC UK, will help build young people’s confidence and understanding of money through creative, fun and hands-on activities.

Research by Money Advice Service tells us that we develop financial habits by the age of 7, so we need to start helping young people develop these skills early. The badge aims to build on the decision-making abilities young people already have to increase their confidence in choices around money.

There are four requirements for Beavers and five for Cubs, with at least two new activities for each requirement – all designed in collaboration with volunteers, and tested and enjoyed by real Beavers and Cubs.

Beavers Money Skills Activity Badge

The new Badge is aligned with age-appropriate financial skills outlined in Young Money’s planning framework research. With a focus in inclusive learning, it’ll also help young people understand how their financial choices affect others, as well as support those who struggle with numeracy, using practical activities to get young people ‘learning by doing’. This means that young people who are grappling with maths can still enjoy and benefit from earning the Money Skills Activity Badge.

The badge has been developed as part of a three-year philanthropic partnership with HSBC UK.

Stuart Haire, Head of Wealth and Personal Banking at HSBC UK, said:

Cubs Money Skills Activity Badge

‘The COVID-19 crisis has tested the financial resilience of many families as well as disrupted in-classroom learning, elevating the need for more flexible and effective financial education resources to help young people build financial capabilities for a changing world. Creating new and interesting ways for young people to engage with financial literacy is key, and we’re thrilled to be working with the Scouts to launch their Money Skills Activity Badge – the first financial skill-building programme of its kind.’

HSBC UK plan to train more than 200 of their staff to deliver sessions to young people in Beavers and Cubs to help them achieve this badge.

We’re delighted to be working together to help young people prepare to deal with money, both at Scouts and in their personal lives.