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New online tool to max young people’s money skills

24th September 2012 Print

Young people are now able to go online for a free tailored money action plan, thanks to the launch of Max Your Money Skills, a new online tool designed to improve the financial skills of 14 to 18 year olds.

Developed by financial education charity pfeg (Personal Finance Education Group) and supported by Santander, the tool is the first of its kind in the UK for young people.

Max Your Money Skills explores young people's financial attitudes and ‘money personalities' through a series of different questions, providing a tailor-made individual action plan of how they can improve their personal finances and financial capability.  Action plans include things to consider or do, such as open a bank account and then check statements regularly, or things to find out or practice, such as watch a video about debt or find out more about student finance.

The actions are ordered by priority for each user, and are designed to be short and appealing to young people.

Developed for use directly by young people, the tool is also supported by teaching materials enabling it to be used in financial education lessons in the classroom.

Tracey Bleakley, pfeg (Personal Finance Education Group) chief executive, said: "Young people are encountering money earlier and earlier in life - from mobile phone bills to online shopping and everything in-between.  Yet until now, there has been no way for younger Britons to go online to receive a free personalised action plan to help them get started with managing their money.

"It is crucial that young people are able to access free information on how to manage their money and understand their personal finances better - and the best way to do this is through an online tool tailored specifically to their needs."

Christianne Carrick, Senior CSR Manager, Santander said: "It's never too early to start managing your money, whether it's pocket money, an allowance, or income from a first job. Max Your Money Skills is a unique way for young people to get free help and make the most of their finances through a fun and engaging tool. We hope that 14 to 18 year olds across the UK go online for their own check-up and follow the action plan for healthier financial future."

Max Your Money Skills is available at pfeg.org/max.