A host of famous faces have spoken out in support of young people’s charity, UK Youth’s new Money for Life programme.
Ashley Banjo (Diversity), Trevor Nelson (BBC Radio 1 & 2), Dina Asher-Smith (Rio 2016 medalist), and JJ Hamblett (Union J), all appear in a new video campaign released today to mark the launch of the pioneering initiative, which helps young people take control of their personal finances.
Research published by Money Advice Service last month identified that while over two thirds of young adults (69%) say they have financial goals, most of them don’t have a plan to reach them. This lack of financial planning could mean that many young adults may fall short of achieving their aspirations.
Money for Life, which is delivered in partnership with The Mix and is funded by Lloyds Banking Group, aims to inspire a generation to make the most of their money. The three year programme comprises of a new online resource hub, where young people can find expert money advice, online training, supportive forums and a crisis helpline. The programme also offers face-to-face peer education training to provide practical Money Masterclasses to young people across the UK.
Finally a new savings app will launch next month that offers various tools to support financial education.
Diversity’s Ashley Banjo said: “I would have loved for there to have been a rule book or a guide to say to me ‘this is the way to look after your money’, so when I started to achieve success in my career I was ready for it. Money for Life is a great way to make the most of your money, whether you’re starting out or you’re already on your own career path.”
Meanwhile, JJ Hamblett of pop band Union J said: “It’s so hard for young people right now, with nearly one million people under 25 out of work and education, and the average student debt has increased drastically in recent years. And for many of our amazing fans owning a house seems like an impossible dream. Money for Life can make a real difference to young people to take control of their personal finances today, and build for a brighter tomorrow.”