Beast from the East

Natalie Beardwell introduces RedSTART’s very own beast, ‘Rich Ricky’.

Hundreds of schools close as ‘Beast from the East’ blankets parts of Britain in snow. What can you do with your children on a snowy day to avoid RedSTART’s very own beast – Rich Ricky?

Let’s be honest, when you were young (and maybe even now?!) waking up to a flurry of snow is the best thing ever… SNOW DAY! That’s until the novelty quickly wears off, as the fresh powder turns to slush and you no longer have enough snow to form a snow ball, let alone a miniature snowman.

Well, fear not, we have some activity ideas that will help you to fill your snow day in the absence of school and ironically, snow! All focused on our mission to help one million young people have a more financially secure future.

Robert Gardner (RedSTART co-founder) recently identified in his TEDx Talk the global problems associated with the growing savings gap and financial problems people have in the UK and around the world. A third of people in the UK have debt problems and more than 16 million have less than £100 in savings. Increased life expectancy and the growing pensions crisis means that individuals are now in charge of their money for the present and future. There is a £6 trillion savings gap, set to rise to over £25 trillion by 2050 – this means there’s a shortage in the amount being saved and the amount required to give people a healthy income in retirement.

Children are heading towards a bleak financial future and we need to do something about it. That’s why we created a workshop called ‘Money Matters’ – an interactive game-based environment to help Primary school children learn key financial behaviours in a fun and engaging way.

One of the most worrying things we’ve identified is people of all ages are falling victim to financial fraudsters and as such, as much as £2 million per day is lost collectively by individuals in the UK. We want children as young as seven to be financially aware and to be able to spot a ‘too good to be true’ scenario.

Easy Money

One of the seven games included in our Money Matters’ offering features a fictional character, ‘Rich Ricky’ – your very own Beast on a snow day!

Rich Ricky is a city slicker who regularly jets off on holiday and seems to make money all over the world. If you want guaranteed free money then look no further. Give Rich Ricky (a virtual) £100 then he will invest the money on your behalf and give you back double at the end of the game – £200!

Rich Ricky will phone regularly throughout the game to reassure that everything is going to plan. He needs more and more money, but not to worry, he’ll keep doubling the returns. Eventually it is revealed that Rich Ricky has ended up in jail and has lost all the invested money.

This game teaches young people that scams exist and that if they are not wary they will get sucked in and may potentially lose serious money.

So, if you do one thing today, try out this game – your children will be one step closer to being financially savvy! You can download all supporting materials here.

Natalie is Head of Marketing at RedSTART.