Nationwide welcomes FSA's 'What About Money' website

Maxine Taylor, corporate affairs director at Nationwide Building Society, comments on the launch of the Financial Services Authority's new website, 'What About Money' which provides personal finance advice to young adults.

"We believe the FSA website, 'What About Money' is a really good tool as it should go a long-way towards helping educate teenagers to cope with the challenges of purchasing a house, going to university and managing household bills. If the FSA actively encourages schools, colleges and universities to promote the website and the information contained within it to their students, it will become a valuable resource.

"Last month, we distributed The Teenager's Guide to Money to over 5,000 schools and colleges across the UK. In particular, we wanted to help those teenagers who are ill-prepared for the financial struggles they will face as they approach adulthood. Our research reveals a fifth of teenagers do not view being in debt as a bad thing and over three-quarters (77%) do not know what a direct debit is. As many students will miss out on financial literacy classes at school, we think the sponsorship of this book will help to fill a knowledge gap and teach young people the skills required to face their future financial responsibilities.

"At Nationwide we are committed to helping people make the most of their money and educate all ages on the best way to manage their finances. We want to ensure every young person has a good start to their financial life."