Financial capability and young people

Parents/carers Friends Digital Experts How do young people seek advice? The age of Digital Natives…

Digital Natives Hybrid lives: physical and virtual Digital-savvy and (overly?) confident Wisdom of crowds Search for identity Journey of advice-seeking…leading towards deeper knowledge and the opportunity for personal action

© Young Scot 2008

Who is Young Scot? National youth information and citizenship charity for Scotland Registered charity, based in Edinburgh Established for over 25 years Supporting young people aged Co-located with YouthLink Scotland and the Scottish Youth Parliament

© Young Scot 2008 Young Scot Aims To provide young people, aged , with a mixture of information, ideas and incentives to help them become confident, informed and active citizens. We do this in a variety of formats so young people can access information in a way they are comfortable with. It is our hope that the information we provide will enable them to: –Make informed decisions and choices –Turn their ideas into action –Take advantage of the opportunities available to them –Have the confidence and knowledge to take their place as active citizens in their communities- locally, nationally and globally.

© Young Scot 2008 Services for Young People…

© Young Scot 2008 Local Authority Network

© Young Scot 2008 Key Statistics… 360,000 Young Scot cardholders across Scotland (and growing!) 10m hits per year on sites Partnerships with all 32 local authorities through Dialogue Youth initiative Young Scot card offers 1,200+ discounts in Scotland 100,000 reciprocal deals with 42 countries across Europe 160,000 copies and 36 local versions of the Young Scot Books published in 2008 Extremely positive HMIE audit in 2007

© Young Scot 2008 Financial Capability Key information specialism Working in partnership: –Financial Services Authority –Scottish Government –Scottish Centre for Financial Education

© Young Scot 2008 Financial Capability Scottish Government –Financial Inclusion Team –InfoLine Phone and Web –LaunchPad –Video Diaries –FAB(Y)!

© Young Scot 2008 National Youth Information Portal The national youth information portal for young people aged in Scotland Channels dedicated to money, careers, training and work and housing Portal receives over 10million hits a year

© Young Scot 2008 InfoLine Website Information on money, housing, health, training and work for young people in transition from school to independent living In-depth information available in downloadable factsheets

© Young Scot 2008 Young Scot InfoLine FREE & confidential youth information service Freephone telephone line: am to 6pm, Monday to Friday Contact centre within national Young Scot office with fully trained Information Advisors enquiry and text service Promoting InfoLine at Fresher’s Fairs throughout Scotland and working with partners and intermediaries such as learndirect Scotland

© Young Scot 2008 Financial Advisory Board (Youth) …or FABY!! Young Scot money advisory group made up of young volunteers aged from across Scotland FABY meets to discuss issues relating to money and access to financial products/services for young people Group work to produce podcasts on managing money and develop information factsheets for portal

© Young Scot 2008 Podcasting Creating popular and informative podcasts with young people about money and independent living issues. Alternative way of providing money information Can include interviews and discussions Young people and FABY group are involved in the making of podcasts Inclusive method of delivering information and engaging young people

© Young Scot 2008 Financial Capability Lloyds TSB Scotland –“Tell It Like It Is” –FABY (Financial Advisory Board Youth) –Card accepted for opening basic bank accounts –Provision of training for LTSBS staff –Podcasting –Mystery shoppers –YS Awards

© Young Scot 2008 Financial Capability Scottish Centre For Financial Education Worked in partnership for many years LaunchPad Supported by Scottish Government

© Young Scot 2008 What is LaunchPad? Resource aimed at MCMC young people Those making transition from school to independent living and at risk of poorer outcomes. Two key components: –Information gathering sessions / focus groups with Christmas school-leavers Content Format Language –new bespoke resource

© Young Scot 2008 LaunchPad Outcome of focus group sessions. Young people want a resource which: Tells them ‘What you’re up against so you can get yourself sorted out with a good job.’ Is simple to use. Has a mix of online and offline resources. Uses videos of young people to present real situations. ‘YouTube Generation’

© Young Scot 2008 LaunchPad Development of resource: Videos developed in conjunction with young drama group/Firefly Arts. Concepts and scripts for the videos created by young people using six main topics: Getting into Debt, Budgeting Your Money, Benefits and Jobs, Planning Ahead, Housing and Student Life. Young people starred in the videos, creating a six part mini-drama, which can also be watched independently. Videos supported by factsheets on topics identified from focus groups. Quizzes available in each section to test knowledge/independent living skills.

© Young Scot 2008 LaunchPad

© Young Scot 2008 LaunchPad

© Young Scot 2008 LaunchPad

© Young Scot 2008 LaunchPad

© Young Scot 2008 Contact Young Scot in-school Portals - InfoLine Web Service - InfoLine Phone Service LaunchPad – HILARY LYNN Financial Capability Development Officer

© Young Scot 2008