youthmoney

Books, magazines, websites….here are some good places to go for sound information and ideas for activities.

All resources are free, unless a price is given.

Personal Finance handbook: 2nd edition

Not specifically aimed at young people, but very useful nevertheless. It offers a guide to everyday financial products and services – and is both comprehensive and authoritative.
This second edition was updated in August 2007.
Price: £15
Available from CPAG or email bookorders@cpag.org.uk

Financial capability guide: essential information to support young people

A highly-praised guide produced by Citizens Advice, supported by the Financial Services Authority, as part of the Young People and Money Project. I wrote parts of it. To get a hard copy you need to attend the free training course.

You can also download an electronic version.

On Your Own 2 Feet: Supporting young people to take more control of their money

A good-practice guide and tool kit for youth workers. Produced by Fairbridge, the well-respected youth organisation, it provides masses of tried and tested ideas, all set out ready for use.

It supports the young people and money training and complements the information guide above.
Available in the same way – sign up for training or download it.

Just the facts about basic bank accounts

What happens if I only have £6 left in my account and the cash machine only gives £10 notes? The answer depends on whether or not your account has a buffer zone. If it has, you get the money, at no overdraft charge. Otherwise, no payout.

This is just one question of many answered in this clear, handy and short booklet from Money Made Clear run by the UK’s financial watchdog the Financial Services Authority. It is one of a series, all promising no selling and no jargon. Find it by browsing around the Money Made Clear site.

What about money?

Another website from the country’s favourite financial watchdog. This Financial Services Authority offering is designed to give impartial financial information to young adults.

A useful section looks systematically at situations young people face at different times in their lives. They include some top tips and case studies. Sections on getting, spending and keeping money run alongside Q&As, forums and polls. Go to What about money?

Lenders compared

Most young people are not likely to be offered prime bank loans or platinum credit cards. The option available and familiar to them is far more likely to home collected loans. They typically offer small cash amounts, sometimes as little as £50, paid back over a fixed period of weeks to an agent who calls at the house.

This exceptionally useful resource allows comparisons of all the home collected loans simply by typing in a post code and an amount desired. Great education in comparing APRs. Lenders compared.

Giving guidance about money matters: top tips,

If you talk to young people about money, there are some things to avoid. This short factsheet sets them out clearly. It gives examples of how you can give general advice and guidance on money matters without needing to be authorised by the Financial Services Authority. And it explains what kinds of advice you do need to be authorised for.

Recommending an insurance policy or pension scheme is a bad idea. Talking generally about different products is fine. As it says on the tin, top tips.

Young people and money: directgov

A store of sound advice and information for young people about money. All very official and reliable because it is provided by directgov, the website of the UK government.

Useful because it the sections on money sit alongside other areas such as crime and justice, education and learning, health, employment, transport. Which is a good reminder that for young people issues overlap. Money management doesn’t happen in a vacuum. Go straight to the money section of the young people site.