youthmoney

There’s some lively online stuff on money choices from BBC Radio 1 and 1 Xtra. In a series of short videos, Scott Mills goofs around wandering into situations and asking viewers to make the right decisions in a “test of financial intelligence”. Here, Greg James and 1Xtra’s Gemma have a week of money management tasks. They’re [...]

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Good article by Ruth Smith in Children and Young People Now. It looks at the financial realities of five young women from a YWCA project in Kent. Good to see their stories, their voices and their weekly budgets. Eighteen-year-old Cherelea simply says about her budget, “I still haven’t got the hang of it”. She probably [...]

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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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How much should young people put into their budgets for presents for their partner? Adults on average spend 3.5 per cent of their salary – £62 a month or £744 a year, according to MoneyExpert, the financial comparison website. On £46.85 income support, that would be around £1.60 a week…

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Companies love direct debit.  There’s no argument that it is easy to set up, helps their cash flow, and discourages customers from looking around. There are certainly advantages for customers, too. But the same characteristics that make it so appealing to the money-takers have—obviously—a downside for those whose money they are taking.

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