Barclays & YouthNet launch new financial advice

The information is available on YouthNet’s guide to life website TheSite.org, aimed at 16 to 25-year-olds. It was compiled in consultation with young people through user groups and discussion boards, and written by the Citizens Advice Bureaux and finance journalists from the national press.

Over 300 existing articles have been audited in the website’s Home, Law & Money section and over 20 new pieces added, on subjects ranging from what to do if someone close to you is made redundant, to coping with the impact of the credit crunch on your love life.

Matt Whyman, YouthNet’s agony uncle and TheSite.org advisor, says: “Our research showed that young people were most concerned about how the recession is impacting on job opportunities and the emotional implications of being unemployed.

“We’ve responded by focusing on getting all the facts up to date, as well as including information on how to deal with the emotional impact of the credit crunch - something that can easily be forgotten.”

TheSite.org’s Money section now contains extra links and resources, the most relevant and recent research and changes in the law, improved layout and more in-depth information.

Michelle Smith, Barclays Head of Consumer and Community Affairs, added: “It’s really important for young people to be able to access accurate and reliable financial information.

“We’re really pleased that, through this partnership with YouthNet, we can directly address the issues that are currently affecting young people.”

Here is a small taste of TheSite.org’s finance survival tips for young people:

1. If you’re in a relationship: Think carefully before taking out any debt on your partner's behalf if they are denied credit. Even if they promise to pay you back, the debt will be in your name and you will be responsible for paying it off, not them
2. If a loved-one is made redundant: Someone who is used to going to work every day may feel defeated joining the dole queue. They could get angry and frustrated, or show signs of depression. Remember, you're entitled to seek support as well. You may not be the one who has lost their job, but that doesn't mean you're not going to be affected by the situation
3. If you’re unemployed: There are loads of things you can do for free if you’re out of pocket. Staying at home all day isn’t always good for your confidence, so why not learn a language online, join a library or start clothes swapping?

YouthNet teamed up with Barclays Money Skills in 2009, which provided funding of more than £60,000 to future-proof the advice the money section offers. The project aims to create services that reflect young people’s needs in a financial landscape that has changed dramatically during the recession.

TheSite.org provides straight-talking, anonymous information and advice 24 hours a day on subjects including work and study, drink and drugs, and relationships. Its bespoke question and answer service, askTheSite, provides young people with a confidential, personal answer to any question within three working days, with money-related questions answered by partner organisation Citizens Advice Bureaux.

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Media Enquiries:
For further media information – or to arrange interviews – please contact Gabriella Jozwiak or Sarah Wilson at YouthNet on 020 7250 5716 or out-of-hours on 07766 660 755.  Email media@youthnet.org

Notes to editors

1. The number of unique users on TheSite.org’s money section rose by 21%, from 11,002 in December 2008 to 13,273 in December 2009 – a rise of 2,271
2. Run by young people’s charity YouthNet, TheSite.org is the online guide to life for 16 to 25-year-olds.  With over 2,000 articles written by experts and journalists, a series of blogs, podcasts and videos, a bespoke question and answer service - askTheSite, and a thriving online community, TheSite.org is the central place for young people to turn to for sound, straight talking, anonymous advice 24-hours-a-day
3. Every month, TheSite.org is visited by over 500,000 unique users, and receives around 800 questions on issues ranging from relationships to advice on housing. Content on TheSite.org is also available on mobile, at TheSite.org/mobile
4. YouthNet is the UK’s first exclusively online charity and was founded by Martyn Lewis CBE in 1995. It aims to create a socially inclusive environment where all young adults are engaged, informed and inspired to achieve their ambitions and dreams, and does this through three websites: TheSite.org, Do-it (do-it.org.uk) the UK’s leading volunteering website and Lifetracks.com, for young people making decisions about work, study or training
5. Barclays Money Skills is the bank's new Community Investment programme in the UK aiming to improve people's financial capability. Barclays Money Skills helps individuals develop their confidence and ability to manage money which includes budgeting, making informed financial choices and knowing where to get help. The programme also offers Barclays employees the opportunity to volunteer and share their business knowledge with young people, in getting to grips with the importance of understanding and managing money in both a practical and fun way
6. Citizens Advice Bureaux (CAB) are independent registered charities providing free, independent, impartial and confidential advice to anyone who needs it, on a whole range of issues.