26 February 2008
Two charities have formed a partnership to help encourage responsible spending and money management among young people.
YouthNet and the Citizens Advice Bureau (CAB) have come up with a plan to use a range of media - such as podcasts, mobile content and web content - to target people aged 16 to 25.
It is hoped that the scheme, which is being partly funded by the HBOS Foundation, will reach half a million people in this age group and help promote responsible practices.
CAB spokesperson Moira Haynes suggested that young people were especially at risk of falling into financial troubles, yet only one in eight would seek help from their local CAB.
She added that the internet has become the first port of call for teenagers and students who are looking for information on a variety of topics.
Personal debt in the UK is growing by £1 million every five minutes, according to statistics collected by Credit Action.