The bank HBOS has given the youth charity £410,000 to train volunteer mentors to teach young offenders how to be more financially literate. The training will help mentors provide financial advice and guidance to young people.
The aim is to increase young people's financial awareness and confidence in dealing with money and to help them maintain their tenancies if they are in supported accommodation. The teaching should also help them in the resettlement process by ensuring financial difficulties do not draw them back into crime.
The pilot will start in the Midlands, with the first mentors being trained at the end of the summer. Rainer will train and match mentors with young people who are getting resettlement and supported housing services and where strong financial literacy support is critical.
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