Addressing the Intersection of Gaming and Financial Literacy
The Young Gamers and Gamblers Education Trust (YGAM) has announced a new partnership with TSB Bank, aimed at improving financial awareness and literacy among young people engaged in gaming. The collaboration seeks to equip young gamers with the skills to manage in-game spending and understand the broader risks associated with online gaming and gambling-like mechanics.
Targeting Vulnerable Youth Through Education
This initiative arrives at a crucial time. Research by UK Finance and Ofcom indicates that approximately 93% of UK children aged 8–15 engage in online gaming, with many encountering in-game purchases, loot boxes, and microtransactions. A 2023 YGAM study also revealed that 42% of young gamers had spent money impulsively without understanding the costs, underlining a clear need for targeted education.
TSB Bank, known for its grassroots financial literacy efforts, will collaborate with YGAM to deliver tailored workshops and resources to students, parents, and educators. These materials will highlight the risks of uncontrolled spending and promote safer financial habits, both in games and real life.
Bridging a Growing Digital Knowledge Gap
According to YGAM’s Chief Executive, Dr. Jane Rigbye, “The financial features of modern video games can blur the line between gaming and gambling. Our collaboration with TSB is an essential step to empower young people to navigate this landscape confidently.”
Corporate Social Responsibility in Action
TSB’s Head of Responsible Business, Pella Frost, echoed this sentiment, noting that the bank’s involvement reflects a broader commitment to safeguarding young customers. “By improving financial understanding early, we reduce risks of problematic behaviours later in life,” Frost added.
Outlook: Expanding Educational Reach
The programme is set to roll out nationwide in schools and community centres by late 2025, with an estimated reach of over 50,000 young people in its first year.
