Global Money Week

For this year’s Global Money Week, we created our content series Money Minds to equip young people with essential financial and career skills needed to take small steps towards their bigger goals. Once completed, users are invited to learn more with infographics and access to content from partners like Barclays LifeSkills and put their knowledge to the test with our quiz jointly created with MyBnk.

Being aware of AI fraud

In this episode of Money Minds, Visa’s Head of Design Strategy, Andreas Roos, explains how AI is making fraud harder to spot — and shares some top tips to help you spot scams.

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What is phishing?

While artificial intelligence (AI) is opening up new possibilities, from automation to creativity, it’s also being used by fraudsters to make online scams more sophisticated.

Phishing is when fraudsters aim to trick people into giving away sensitive information, such as passwords or financial data, by pretending to be a trusted source or someone that you know. It might take the form of fake emails or messages — and now, with the use of AI, it’s possible for scammers to contact you by cloning the voice of someone that you know.

Phishing scams often create a sense of urgency to make people act quickly, and if successful can lead to identity theft, financial loss, or access to personal accounts. This Barclays Life Skills article provides more information on phishing, as well as vishing and smishing.

What are deepfakes and AI chatbots?

Deepfakes, which can be images or videos, are digitally altered so that they appear to be someone else, and can be used for scams or to spread false information. Fraudsters can also use AI to create chatbots that impersonate humans, engaging in fake online chat conversations and often trying to extract personal information.

What should I do if I think  I’m being scammed?

Being aware of some of the ways that fraudsters might target you is the first step to avoiding scams. It’s important that, if anyone asks you for personal or financial information online, you take a step back and think about whether the interaction is genuine or not. If you think you’ve been scammed, contact your bank to report the fraud as soon as possible.

The basics of entrepreneurship

In this episode of Money Minds, artist and online creator Sophie Tea shares her business story and gives advice for budding entrepreneurs.

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What to consider before starting a side-hustle or business

There’s no one-size-fits-all way to start a business — you might have a passion that you want to turn into a side-hustle, or a spark of entrepreneurial inspiration that you’d like to grow. Being an entrepreneur can often require a wide range of skills. You don't need all the answers right from the start, but by building your knowledge you can feel confident in taking the first steps towards creating a business.

Understanding what customers want, or might want in the future, is a key part of entrepreneurship. Take some time to research the market, and make the most of free tools such as social media to connect with your potential customers and ask questions.

When you’re clear on your business idea, it’s wise to put together a plan — which is like a roadmap of where you want to go. The Practical Business Skills hub provides a helpful guide to creating your first business plan, plus more tips on getting started.

Is being an entrepreneur  right for you?

Starting up a business or side-hustle can certainly be enticing. You can be your own boss, run things the way you want to, and have opportunities for personal and financial growth. But it also comes with many challenges, and there may be a steep learning curve in the beginning. It’s important to weigh out the pros and cons before you get started, and to assess any risks.

Building financial resilience

In this episode of Money Minds, Visa athlete and England midfielder Fran Kirby delves into the lessons she’s learned on the pitch and how she applies them to managing her money.

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How to nail the basics

Scoring goals in football takes practice and effort, and reaching your financial goals is no different. One of the simplest ways to start with mastering your money is by reviewing your finances, then setting out your goals and making a plan to reach them.

First, add up how much money you have coming in each month to work out your income, then estimate your expenses. Once you’ve totalled up what’s coming in and out, you can then work out the difference — and voilà, you have created a monthly budget.

It’s a good idea to track your income and expenses so that you can make sure you’re sticking to your budget. Get started using our budget worksheet on The Practical Money Skills hub, which also provides more information and a range of free tools to help you on your journey.

What to be prepared for

Being game-ready is essential. Yet our research with MyBnk finds that 40% of young people in the UK are significantly less confident when it comes to managing their money compared to older generations.

Just like in football, confidence helps build resilience when it comes to your finances. Challenges are inevitable in life, but by building knowledge and skills you can feel empowered to take the next step. It’s important to think about your own financial priorities, and what events might be coming up in your life. It’s also a good idea to build an emergency fund of savings, so that you’ll have some money set aside should you face unexpected expenses. Watch professional footballer and Team Visa athlete Megan Campbell as she shares her top money tips.

Money Minds

Bite-sized lessons

Short for time? Here are some bite-sized videos to keep learning on the go.

Money Minds library

Keep the learning going to level up your financial game.

Global Money Week 2024

Watch videos from last year’s event below: