Why MyPocketSkill Was Created: Helping Teenagers Earn Money and Learn Financial Skills

Author: Matthew Harker - Co Founder and Co- CEO of MyPocketSkill

At a recent panel at the MoneyLive conference, I was asked a simple question:

“What made you start MyPocketSkill?”

The answer comes down to two key reasons: a problem I saw as a parent and an opportunity to improve financial education for young people.

Both are still at the heart of everything we do today.

The Disappearance of the Saturday Job

Like many parents, I have teenagers. Over time, I noticed something worrying: it has become much harder for teenagers to get their first job in the UK.

For many generations, a Saturday job or part-time role was a key milestone for young people. It was often their first step into the world of work and money.

These early jobs helped young people develop:

• Responsibility
• Confidence
• Work experience
• An understanding of how money works

But those opportunities are becoming harder to find.

Recent UK data shows that close to one million young people aged 16–24 are not in education, employment or training (NEET). Youth unemployment has also risen to around 15–16%, far higher than the overall unemployment rate.

Behind these statistics are real young people, like my own kids, struggling to access the early earning opportunities that previous generations took for granted.

And when those opportunities disappear, something else disappears too.

The chance to learn about money through real-life experience.

Why Earning Money Is Key to Financial Education

Before starting MyPocketSkill with my co-founder Zara Ransley, my work focused on evidence-based research, developing effective digital products and igniting behaviour change.

This led to research exploring the relationship between earning money and learning financial skills.

Working with the Money and Pensions Service, Zara and I helped author research on what works in building financial capability in children and young people.

The research revealed an important insight.

Young people may learn about money in the classroom, but they develop real financial habits through experience.

That means earning money, managing it and saving towards goals are powerful learning tools.

This is why financial education cannot rely on classroom teaching alone.

The Idea Behind MyPocketSkill

One of the strongest insights from the research was the connection between:

• earning money
• setting savings goals
• developing positive financial habits

When young people earn money themselves, the lessons become real.

Saving becomes meaningful. Spending decisions become thoughtful. Financial confidence grows.

This insight became the foundation for MyPocketSkill.

The platform was designed to help teenagers find real ways to earn money, build skills and gain early work experience, while also developing better money habits.

Why Teen Jobs Matter More Than Ever

Youth employment opportunities in the UK are under pressure.

Research shows that almost one in eight young people are currently not in education, employment or training. At the same time, many employers report that young people lack early work experience.

This creates a gap between education and employment.

Early earning opportunities help bridge that gap by allowing young people to:

• develop work skills
• build confidence
• learn financial responsibility
• gain experience for future jobs

Our own data shows that young people who earn through MyPocketSkill are more likely to set savings goals and feel confident about work.

This is financial education through real-life experience, not just theory.

Real Stories From Young People

Beyond the research, the most powerful evidence comes from the young people themselves.

One example is Eddie W, who started by earning a small amount of money through MyPocketSkill.

Over time, he developed an interest in saving and investing. Today he is investing through a Stocks & Shares ISA.

That journey, from earning a few pounds to engaging in investing, is exactly what MyPocketSkill was designed to support.

Join Us in Helping Young People Earn and Learn

As MyPocketSkill grows beyond 250K sign ups with a community of 13 to 25 year olds, the original motivation remains the same: help young people access real earning opportunities while building the financial skills they need for life.

When young people earn their own money, they don’t just gain income. They develop confidence, responsibility and real-world financial knowledge that stays with them into adulthood.

But we can’t do it alone.

We’re working with financial institutions like Lloyds Bank, educators, community organisations and families to expand access to these early earning opportunities and make financial education more practical and accessible.

If you’re interested in supporting the next generation to earn, save and build financial confidence, we’d love to hear from you.

Learn more about MyPocketSkill or explore partnership opportunities today.

Email: admin@mypocketskill.com