Money Works empowers young adults aged 16-25 to confront their financial fears, take control and make their money work for them. Together we identify financial stress triggers, confront doubts, misconceptions and bad habits around money –ultimately, break down the barriers to independent living
Categories
Britons sleepwalk into debt, £1.5 trillion of it. The average citizen owes £8K, a lack of saving is storing up a pension crisis, a £26K graduate liability looms and young people will inherit billions of public debts with tighter job markets. The need for financial education is becoming a right. * Nearly half of 16-25 year olds say debt is their biggest fear * 90% worry about money * 1 in 20 teens think they don’t have to pay back credit card debt. * Nearly 1m youths are unemployed
Money Works acts as a forum for questions and discussions. It offers young people an arena to clear up any money misconceptions, explore money issues affecting them, and get information they may have been unable to obtain elsewhere. Increasing young people’s understanding of how the decisions they make around money affects their futures, decreases the risk of young people falling into financial exclusion, unmanageable debt and a cycle of dependency.