How many of you have worked with young people where their biggest issue is their lack of money?

Or where they have been seduced by credit or store cards that have outrageous amounts of interest?

As youth workers, we see our role as having an impact on young people's life skills. Having the ability to handle money or avoid debt are key skills that evidence suggests are not widely prevalent in today's society.

Giving young people these "financial capability" skills puts them in control of their lives.

But are there any organisations that help youth workers to raise financial awareness among young people? The answer is yes: the Financial Services Authority. The financial regulator has a legal duty to promote public understanding of the finance system but it simply doesn't have the day-to-day contact or expertise to reach all those most in need of its help. This is why last November it launched a national initiative to improve financial capability in the UK.

One of the seven priority areas of this initiative are young adults and my role is to support the working group heading the programme to develop and learn from pilot schemes that try to improve the financial understanding of young people who are not in education, work or training.

So what are these pilots? For a start there's Young Scot, which is developing an advice line called Money Line, and Fairbridge West in Bristol, which is developing a programme designed to increase young people's financial capability and looking at ways to embed this knowledge in their regular access programme.

Roehampton University is running a pilot programme looking to meet the needs of students at key stages in their student life and we are working with the further education sector to develop a curriculum offer.

In addition, the Citizens Advice Bureau is developing a training programme aimed at, among others, intermediaries such as youth workers, Connexions personal advisers and housing support workers.

For those of you already working with young people on their financial skills, we are also looking for examples of good practice. We would also love to hear from interesting projects, and would be happy to keep you updated on our work.

- Linda Jack, youth adviser of the Young Adults Working Group, Financial Services Authority - linda.jack@fsa.gov.uk

- Got something to say in Soapbox? steve.barrett@haynet.com or 020 8267 4707.