Written by Rosie Neill

Product Marketing Manager

When it comes to money, many of us have made mistakes and decisions we’re not proud of. But learning from these is what’s important. From buying guilty pleasures to bigger money mishaps, there’s also comfort in knowing that usually, when it comes to money, you’re not the first one to make the mistake. 

Hearing about these from their peers is a great way for students to learn from each other, take comfort in the fact that they’re not alone and let go of any fear associated with talking about money (and money mistakes in particular). That’s why, after last year’s success, we’re bringing back Money Confessions, the peer-to-peer student campaign that takes place on Instagram!

I was overusing overdrafts as if they were free money and really struggled to get out of them.

Student response Money Confessions 2021

What is Money Confessions?

During Money Confessions, our Instagram Stories will become a place for students to share their ‘money confessions’. They’ll also be able to read other students’ submissions to see that they’re not alone and to help them avoid making those same mistakes in the future. 

This will be a safe space, with no judgement, and all student confessions will be anonymised before being shared on our Instagram Stories.

Some of the struggles students told us about in last year’s Money Confessions involved:

  • Takeaway addictions 
  • Bad debt 
  • Excessive risk 
  • Impulse shopping 

Why is Money Confessions important?

Removing the stigma around money and encouraging open conversations are key to improving student financial wellbeing. 

Our Financial Wellbeing Platform helps students to develop essential money skills, but it’s vital to also make money part of everyday conversations. Money is a key part of life and everybody struggles with it at some point, so we can learn a lot from each other by sharing our money wins and, most importantly, our money mistakes. 

Promoting honesty around money will allow more opportunities for students to learn from each other and prevent students from having to suffer in silence, believing that they’re the only ones facing a particular financial problem, which is almost never the case. 

I never check my bank balance. I just spend and hope for the best.

Student response Money Confessions 2021

How can students get involved?

Each day during Money Confessions (this year’s dates below), students will have the chance to submit their money confession through our Instagram Stories. We’ll then share all entries (anonymously), also on our Instagram Stories. 

There will also be a prize draw each month for those that submit their money confession to us, to reward those who contribute to normalising money conversations. One prize of £50 will be up for grabs each month!

The dates for Money Confessions 2022 are: 

  • May 9th-13th
  • June 6th-10th
  • July 4th-8th

Prizes 

The winner will be given the choice of being paid £50 or we will make a £50 donation in the winner’s name to a charity of their choice. 

To enter the monthly prize draw and have the chance to win £50, students must:

  • Study at one of our partner universities or colleges
  • Submit an entry on our Instagram stories during one of the Money Confessions weeks
  • Have a Blackbullion account

Full terms and conditions can be found here.

What do university and college staff need to do?

We’re doing all the heavy lifting when it comes to Money Confessions! All there is for you to do as a staff member is to direct students to our Instagram during the Money Confessions weeks throughout May, June and July.

We’ve also created a comms ‘cheat sheet’ for staff at our partner universities and colleges to download and use to let students know when Money Confessions is upcoming and encourage them to take part during the campaign weeks. The cheat sheet includes email templates and social media posts for you to copy, paste and send. Download it here.

Thank you for your support when it comes to Money Confessions. We look forward to seeing lots of your students sharing their money confessions again this year and taking a big step towards removing the stigma around money! 

If you have any questions about Money Confessions, contact us at hello@blackbullion.com. And make sure you sign up to our staff newsletter to hear about all of our future campaigns too.

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