At Derbyshire Community Bank, we believe financial education should not begin when someone applies for their first loan, it should start much earlier.
That’s why we were proud to be invited to speak to the sixth form students at Landau Forte Sixth Form in Derby. Our CEO, Phil Cole delivered a financial guidance session designed specifically for young people preparing to step into adult life.
Our core message was simple:
“Money is not about money. It’s about choices”
Sixth form students are on the brink of major life decisions such as university, apprenticeships, employment, moving out, driving, travelling. Each of these steps involves financial responsibility.
As a not-for-profit financial cooperative serving Derbyshire, we feel a responsibility not only to lend responsibly, but to share knowledge responsibly.
We wanted to pass on practical, real-world financial understanding.
We discussed the importance of having a financial plan and understanding that money is about choices. It’s not just what you earn, it’s what you manage and keep. Financial control creates options and independence.
Students explored some practical examples of how loans work, about essential and discretionary spending; how we can sometimes cut back on things we don’t need to afford the things we really do need, the difference between good debt and bad debt and how credit scores work. We highlighted how time and interest can significantly increase the cost of borrowing — especially when making credit card minimum repayments.
We examined the tactics used in gambling advertising and encouraged students to think critically about who is really in control. Understanding marketing techniques is key to making informed decisions.
We introduced basic investment concepts such as compound interest, risk appetite, and “set and forget” strategies. The focus was on mindset — showing how starting early can make a meaningful difference over time, enabling your earned interest to earn more interest.
Financial mistakes often come from lack of awareness rather than lack of effort. By equipping young people with some knowledge of what can work in the favour and some pitfalls to avoid, we can help them build resilience and confidence for the future.
We would like to thank the staff and students at Landau Forte Sixth Form for their engagement and thoughtful contributions during the session.
Passing on financial guidance is one of the most important investments we can make as a community and we are proud to support Derby’s young people as they take their next steps.
For more information about our community impact work
Visit – www.dcbank.org.uk/social-impact
