The Life Skills Trust

The Life Skills Trust was established to improve the life skills of people in the UK through developing a web based resource that enables people to enhance their life skills. 

The fast evolving environment challenges people to develop the necessary life skills and strategies to deal best with their life and circumstances. Such skills are seldom directly taught and are evolved by each individual throughout their life as they interact with the totality of their environment.

Whilst it is well established that skills are acquired in the home, in education, at work and in play, each individual can and will receive and react to any event differently.

As each individual will face uniquely different challenges it is doubtful that any organisation could define a “best set” of skills and we do not attempt to do this. Instead we have investigated a number of life’s challenges and through analysis continue to identify skills that would better equip an individual to deal with these challenges.

At a basic level life skills are seen as “common sense” but we must then ask who holds such skills “in common” and why some others do not. The consensus is that the majority think it’s “common sense” because that they find it easy. They have the requisite skills to identify, solve and act on the specific challenge, thus assuring their best interest is met. They can and do choose. To those that have not developed the necessary skill set, the opposite is true. When challenged they may fail on any count, not identify the problem, not be able to articulate it, resolve it or act on it, or their resultant action or inaction may be inappropriate.

Credit Issues: Our Primary Challenge.

The first challenge we are addressing is the challenge posed by credit. We first recognise that credit availability in almost every society is a very powerful tool that, used appropriately, greatly enhances life chances. Credit enables any individual or group to leverage opportunity. A widely accepted example is when a society invests in education it is often repaid as its citizens are able to perform to a higher level than would otherwise be the case.

So to take one simple dynamic as an example we will look at the shift from low to high availability of credit. As credit is empowering, surely high availability of credit is better still? Unfortunately the challenge of high credit availability is very different from low credit availability and what was “common sense” for some will become inappropriate.

In a low availability market credit is rationed and providers will pay serious attention to who they provide credit to. As a scarce resource it is guarded and rationed. In addition the borrower would often be required to put together a set of assurances and justification for any application for credit, it becomes an event. In such an environment it becomes “common sense” that getting credit is an advantage and that it confirms the lender has confidence in the borrower and their reasons for expenditure. In short the envisaged “investment” has achieved a level of approval.

Contrast this to a high credit availability market. The providers strive to “sell” credit as smoothly as possible and in such a way that the borrower hardly notices. Provided they can “insure their risk” they will lend to anyone for almost any purpose. The borrower can access almost any set of products and services deferring payment to the future almost without noticing. Why shouldn’t they? When they apply the “common sense” learned from a low credit availability environment they can use it to reinforce their consumption. The ease of access to credit confirms it’s not important. The use of credit provides instant confirmation that it gives advantage: they get stuff. By providing credit the lender confirms their support for the borrower’s expenditure and indeed confirms their support of the borrower themselves.

So why isn’t it “common sense” anymore? Well, the lender has shifted the balance of responsibility to the borrower and the borrower hasn’t paid attention. It’s not that the borrower has more responsibility, it’s merely that they have sole responsibility. It’s up to the borrower to develop the skills to notice, pay attention and make the right judgement in their own best interest. The lender has little or no personal investment either in the borrower or any of their transactions. The care with which money is lent in a low credit availability market provided a restrictive shield that whilst disempowering many, also provided an external advisory and guidance role owing to their interest in common.

 The current UK environment offers a far more complex set of challenges, not least of which are the highly commercial consumer environment and the digitisation of money. Many of the historic self management routines are being swept away and this process is set to continue apace.

The Life Skills Trust is promoting the use of “Max” an online virtual mentor and coach that provides users with the capability to develop and top up their skills and strategies. Max provides an intriguing and entertaining set of learning experiences, individually tailored for each user so that they are better equipped for the challenges of getting their money to work for them.

If you want more information on The Life Skills Trust email Bill@ModelMinds.com