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Managing your Money
Nearly everyone needs a bank or building society account to help them manage their day-to-day money, whatever their situation. Although it is possible to get by using just cash, putting your money in an account gives you several easy and safe ways to pay for things.
These days much of the money you receive is normally only paid direct to a bank/building society account, such as:
- wages and salary from employers
- student loans
- educational maintenance allowance
- benefits, state pensions and some tax credits
If your money is in the bank, you may be less tempted to spend what's in your purse or pocket. So an account could actually help you to budget until the next pay day.
Understanding your money
The following website is aimed at 16-24 year olds, to help you better understand money issues:
http://www.whataboutmoney.info/ 
Debts?
Budgeting is an important skill to develop, especially if you've got very little coming in. Unfortunately it's a fact that young people are particularly vulnerable to debt for lots of reasons. Debt is also a major problem for students in further and higher education.
If you are under 18, you're only liable for debts for "necessaries" (i.e. things which are essential for you to live on). But if you do have serious debts it's really important to get some advice. A useful starting place is the independent and confidential National Debtline on 0808 808 4000.
