Coronavirus – Signposting for young money matters

MyBnk has collated a list of recommended go to sources of advice and guidance for young adults.

Young people are particularly vulnerable to the current economic fallout of the Coronavirus. In a matter of weeks the UK has seen sudden voluntary pay-cuts, a loss of income, forced redundancies and a short-term shock to many households’ already fragile financial situation.

This list will be updated subject to new developments:

• The Mix – Essential guidance for young people. See MyBnk’s recently authored emergency money guide.

• Young Money Blog – Essential advice and guidance. Has it’s own YouTube channel and you can engage directly on Twitter.

• Government – Comprehensive guidance on mental health and wellbeing.

• Money Advice Service (Money and Pensions Service) – Guides for you and your money. Also see here.

• Money Saving Expert – A wide range of guidance on multiple topical financial help and rights subjects.

• StepChange – Free debt advice online.

• Turn2Us – Benefits Information and benefits calculator.

• Which – Compiled supermarkets latest information, store policies, opening times, item limits etc.

• Citizens Advice – Gives free, confidential information and advice to assist people with money, legal, consumer and other problems.

• Financial Conduct Authority – Commentary on the situation, calls for action, and guidance for consumers on financial products.

For University

• Student Finance– See Covid guidance for current and prospective students.

• NUS– the National Union of Students. Check out their Covid guidance here.

• Studential– Information and advice for all students on GCSEs, A Levels, Apprenticeships, Enterprise and applying to university.

• The Care Leavers’ Association– Support for care leavers accessing further and higher education.

• Student budget calculator– A useful tool to help you calculate your budget, from Which.

• Student Money Saver -Deals, free stuff and how to make money.

• UNiDAYS– Big savings on student essentials.

• Save the Student– Publishes articles for students on how to make, save and spend money. Covid guidance here.

• Student Beans– Thousands of online and in store discounts.

• For prospective students: MyBnk’s ‘Next Steps’ booklet.