Training scheme launched to help young adults avoid debt

A British charity has said many young people across the UK could stop racking up huge levels of debt if a new training programme is implemented.

Citizens Advice, working with the Financial Services Authority (FSA), developed the programme, which offers training in financial skills to train staff, such as social workers, who work with vulnerable 16 to 25 year olds.

The scheme was recently piloted in 26 agencies, where 213 people who work with young people on a regular basis were offered financial training.

The results were very good as over 80 per cent of participants said that they would take the information learned into their work.

Many of them also said they are better at recognising quickly when young people are heading for major problems with debt and they could give them more useful advice on how to sort it out and who can help them.

Citizens Advice chief executive David Harker said: "The success of the pilot has shown that this sort of training has the potential to reach many more young adults at risk of financial exclusion.

"If the scheme is extended, it could make a major contribution to their financial skills and understanding."

Its evaluation report recommends that money is made available to allow the programme to be used all over the UK.