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.
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