youthmoney

Quick reminder that the yearly rise in the minimum wage happens next week. From Monday 1 October  the hourly rates are: Aged 22 and over: £5.52 Aged 18-21: £4.60 Aged 16 and 17: £3.40 The relevant government department – the Department for Business, Enterprise and Regulatory Reform – runs the National Minimum Wage Helpline. Call 0845 [...]

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Not sure I fully understand this. And I’m a bit late on it, anyway, not being around last week when Citizens Advice launched a viral marketing campaign aimed at 16-24 year olds. For all I know a vaccine for the virus has already been discovered. Anyway, the plan was to encourage young people to access [...]

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Imagine you’re helping a young person devise a budget. You’ve stressed that they need to be honest and accurate about what they spend. So they tell you that they are a regular, but not daily, user of cannabis. They spend around £40 a month on drugs. Do you encourage them to include that in their budget? [...]

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Are there regional differences in attitudes to money? A survey from Birmingham Midshires, part of its Saving Britain public awareness campaign, suggests yes. People in Yorkshire say they are twice as likely to be able to afford to save than those in the North East – 19% compared with 9%. Does this say something about [...]

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Communities hard-hit by recent Post Office closures were in large housing estates around the outskirts of smaller cities, such as Cardiff, Nottingham and Leeds. Such residents tend to be younger, on a low income and often unemployed. Many are lone parents and few have access to a car. They lack access to a bank account [...]

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How much does it cost a young person to make a benefit claim? Funny question. People don’t have to pay when they apply for a welfare benefit, do they? In effect, many do. The Department for Work and Pensions (DWP) has largely done away with face-to-face contact in local offices. You now make a claim by [...]

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By 2018, 16-year-olds in the UK will be able to manage their own trust fund. Two years later, they will have access to the money in their fund. Over the next decade or so, today’s five year olds must somehow acquire the skills, knowledge and attitude to make rational decisions about what to do with [...]

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