The appropriately-named 'Take Charge' initiative aims to give people under the age of 25 the advice and help they need in order to manage their money with a view to becoming financially independent.
A grand total of 25 partner charities will take part in the scheme, empowering children and young people with vital skills that could help them survive in an environment where employment is scarce and money is especially difficult to keep hold of due to a high cost of living.
Take Charge will be led by the Personal Finance and Education Group (PFEG) and has been designed with the purpose of uniting all charities working to support young people during such a troubling time.
The initiative will also identify and improve key skills that make young people employable such as critical thinking, decision making and teamwork. Its current strategy has the potential to project Take Charge into 2014 and beyond.
David Frost CBE, chair of the Take Charge Advisory Panel, said: "Young people today face enormous challenges - finding a job in a difficult market, managing their money despite the relentless squeeze on household incomes and avoiding the perils of falling into unmanageable debt.
"To survive and thrive in our economy, young people need to be equipped with the skills they need to be financially capable, enterprise and employable."
These skills would undoubtedly include the ability to manage the vast array of financial products available on today's market, including a plethora of bank accounts, credit and debit cards.
Young people would be well-advised to properly research any options they have rather than jumping at the first available product, and having advice on hand would be an excellent way of helping them. Take Charge, we at Aldermore salute you.
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