New online tool to help young people manage money
24 September 2012 16:15:15
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| Help your teenage sons and daughters to manage money |
Credit cards, loans, monthly repayments – debt has become a part of everyday life, whether you're looking to go on holiday or purchase a house. Furthermore, our children are encountering money earlier in life than we did, in the form of mobile phone contracts to online shopping.
But how can we expect them to understand it all if we don't offer them the education? The topic is given scant attention during primary and secondary school years, if covered at all, and so often first contact comes in the form of experience.
Good practices
If you want to give your offspring the chance to get ahead, however, there is now a solution.
The Personal Finance Education Group (PFEG) has announced a brand new tool designed to educate 14 to 18-year-olds in the management of their money, in conjunction with Santander.
Developed especially for young people, Max Your Money Skills allows users to explore their attitudes towards cash while offering education on student loans, opening a bank account and using other forms of debt responsibly.
It also encourages a number of good banking practices, such as checking statements regularly and keeping an eye on personal finances.
Pocket money
Whether your children are still at the pocket money stage or just about to head off to university where budgeting and finance will really be required, Christianne Carrick, senior manager at Santander says it's never too early to start practising.
"Max Your Money Skills is a unique way for young people to get free help and make the most of their finances through a fun and engaging tool.
"We hope that 14 to 18 year olds across the UK go online for their own check-up and follow the action plan for healthier financial future."
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Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
