FSA looks to help indebted young Brits

The Financial Services Authority (FSA) has launched a new website intended to help young British consumers who are struggling to deal with their debts or finances in general, it has emerged.

Dubbed the “What About Money” website, the FSA’s latest online portal will aim to offer useful information on financial and debt management issues to teenagers and people aged in their early 20s.

The site has been established partly in response to a survey by the charity group Rainer that found more than three-quarters of young Britons have been in debt and that many of them had faced serious difficulties in becoming debt free.

“We want to provide information that young people can trust, coming as it does from an informed and authoritative source, in a way that engages and interests them,” said Chris Pond, FSA’s director for financial capability.

Rainer’s report on the extent of debt problems among young Britons concluded that such concerns have become endemic among people aged under 21 around throughout the UK.

Written by Frank Charlton