HBOS supports financial management project

by Gill Montia

Story link: HBOS supports financial management project

HBOS’s charitable foundation is funding a £300,000 three-year project to help young people manage their finances and avoid getting into serious debt.

The Citizens’ Advice Bureau (CAB) and YouthNet will use the grant to target young people aged 16 to 25 via web content, podcasts and mobile phones.

The charities hope to reach a million young people in a project that will supplement the Government’s plans for more personal finance lessons in schools.

According to CAB spokeswoman, Moira Haynes, young adults are particularly vulnerable to money troubles but only one in eight would consider going to their local CAB for help.

The programme has been planned following a consultation of around 600 young people and will be launched in late April or early May this year.

Janet Roberts, grants manager at the HBOS Foundation, says: “We funded this ground-breaking programme, working with these two unique and respected charities, so that they can combine their unique areas of expertise and support and advise young people on the whole range of money issues that affect their lives.”

While personal finance education does not currently form part of the National Curriculum a voluntary course entitled “economic well-being” will be available in schools from September of this year.