Press Release Summary: The new website Whataboutmoney.info developed by FSA aims to solve the problems faced by young people in their finances. Information and tools to plan for the future are also present.
Press Release Body: A new website has been made public by the Financial Services Authority that will help the young people who are stuck in debts and require advice in financial matters.
This website has been unveiled in response to a survey which found out that by the age of 21 years, 80% of the young people are stuck in debts. This research has been carried out by the youth charity Rainer and YouGov.
This research has led to some shocking rulings which say that one out of every five young people owes debts of more than £10,000. Also, one third of all the young people owe at least an amount of £5000 to lenders and are stuck in debts.
The website by FSA is called Whataboutmoney.info and has been developed in cooperation with the Youthnet charity. It is a part of the FSA's National Strategy for Financial Capability.
The website intends to throw light about the financial products and services that the young people can avail and also guides how to go about it. This website will break the barriers that have impeded the youngsters from getting sound financial advice when it comes to their money matters.
The information that is published on the site caters to all the problems that are faced related to financial issues at all stages of life. This includes sections like getting money, spending it, keeping money and student money. Also, the website provides tools to the youngsters which will help them manage their budgets.
The director for financial capability at the FSA, Chris Pond says, "The website has been developed only after first hand inputs from young people as to what they are interested in knowing and the areas where they face problems."
He also added that through this website, they aim to increase the understanding of the citizens about their personal finances and the ways to manage it. This is a very crucial milestone for FSA's National Strategy for Financial Capability. The website whataboutmoney.info will help them decide their priorities in finances for now and they can even plan better for their future.
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2022
