Charity trains youth to avoid debt

Mar 26 2008 Western Mail

A UK charity is launching an initiative to help young people avoid getting into debt.

LifeLine plans to train up to 20,000 youth advisers across the country during the next two years so that they can provide young people with the knowledge and skills they need to manage their finances.

The project, Young People and Money, is part of the Financial Services Authority’s £90m financial capability strategy.

Through the intermediaries the charity hopes to reach up to 200,000 young people who have been classed as Neets (Not in Education, Employment or Training).

Nine out of 10 young people say they worryabout money, but despite this many consider credit cards and overdrafts to be easy ways to spend more than they earn or buy things they cannot normally afford.

The initiative is backed by Chief Secretary to the Treasury Yvette Cooper and actor David Threlfall.