Over 5,000 copies of the Nationwide Building Society Teenagers Guide To Money have been distributed to schools and colleges across the country.
The reason the guide was produced is that just under 70 percent of teenagers in a Nationwide Building Society survey stated that they did not really understand much about finance. With this in mind the Nationwide want to equip young people with a better knowledge and understanding of finance so they can make better choices when selecting a bank account and have to manage their own money.
A Nationwide Building Society spokeswoman said that the teenagers guide would help those people leaving school and equip them with a knowledge that will stand them in good stead for the future.
A new study carried out by Saga Insurance has found that those over 50 years of age do not like to discuss money unless they really have to, unlike younger people who are much more at ease with it.
However there are some things that no-one is particularly comfortable discussing, no matter what their age. The Saga Insurance study revealed that discussions regarding earnings and salary figures are disliked by all categories, with respondents saying they would try and get out of such a discussion if they could.
On the subject of discussing finances generally, around half of those involved in the study told Saga Insurance that it was not an appropriate subject to discuss, whilst almost ten percent of people said they would be embarrassed to discuss their personal finance situation with anyone.
The Abbey National has been speaking to families in the UK and found them cutting their holiday budgets so they can allocate more of their money to day to day living expenses.
Compared with last year the average family spends around GBP175 less than they were doing on a holiday, prompted in no small part by the expectation of fuel and food bills going up by around 60 percent compared with last year. Other areas of family life are also seeing cuts said the Abbey National, including childcare, sports, hobbies and toys.
It is a natural stance to take said the Abbey National, since parents try and manage their finances with common sense, knowing that their family depend on them.
