UK Money News
25th March 2008
Charity to launch debt awareness scheme
A UK charity is set to launch a scheme to help young people avoid falling into debt.
Backed by the Financial Services Authority, the Young People and Money scheme will enable youths to access financial advice to provide them with the skills required to manage their money.
The project will be run by Lifeline, which has unveiled plans to train up to 20,000 people across the UK to dispense advice.
It is hoped that up to 200,000 youngsters who have been dubbed Neets (Not in Education, Employment or Training) will benefit from the move.
Actor David Threlfall has backed the scheme which he said will provide youngsters with financial savvy to walk away from enticing credit card deals.
He said: "You walk into any shopping centre in this country and they're always offering you credit cards, and I find that a problem.
"I walk a mile from it - it's like a trap-door that opens and before you know it, you're on one of those reality shows as a spendaholic. Don't go there."
News of the launch of Young People and Money comes after a recent study found that nine out of ten youngsters are concerned about money.
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