Signposting & Guidance
When providing information and guidance to an individual, as a trainer you may consider a wider financial situation rather than just the presenting question / issue. For example, a young person asks you about upgrading their mobile phone contract, however when looking at their budget it becomes clear they have priority debts still to pay. It is appropriate within your role to look holistically at their situation providing information and guidance on a priority issue first, ahead of a presenting one. In this way you are triaging any money concerns and dealing with them in appropriate order.
In the first table below you will see listed critical money related issues that must be supported on in the first instance, followed by a secondary table of more general money support topics.
| Problem/ Concern/ Issue | Signposts |
| Behind on priority payments/ in debt to priority organisations | Face to Face Christians Against Poverty (CAP) – www.capuk.org Face to face debt counselling service Citizens Advice – www.citizensadvice.org.uk – Face to face debt advice Phone Step Change – www.stepchange.org – Debt advice over the phone Online Online debt advice tool from Step Change – www.stepchange.org/DebtRemedy Self help National debt line self help pack www.nationaldebtline.org |
| Loan Sharks | Online – Stop Loan Sharks www.stoploansharks.co.uk |
| Benefits & Sanctions | Face to Face – Local Job Centre Plus – Citizens Advice – www.citizensadvice.org.uk – Face to face benefit support Online – Turn 2 Us. Benefits calculator and grants database www.turn2us.org.uk – Entitled to. Benefits calculator and A-Z help page www.entitledto.co.uk |
| Housing (specifically housing insecurity) | Online – Centrepoint. Information and hostel services www.centrepoint.org.uk – YMCA. Information and hostel services www.ymca.org.uk – Depaul. Information and hostel services www.depaulcharity.org Localised support – Local authority website |
| Safeguarding – Financial Abuse | Online support – Money Advice Service – Support guide as a starter for full referral www.moneyadviceservice.org.uk/en/articles/protecting-against-financial-abuse |
| Opening & Switching Bank Accounts | Online – Money Advice Service. Opening a bank account: www.moneyadviceservice.org.uk/en/articles/how- to-open-switch-or-close-your-bank-account Opening an account if you have ID issues www.moneyadviceservice.org.uk/blog/how-to- beat-id-issues-when-opening-a-bank-account Face to face – A local credit union www.findyourcreditunion.co.uk |
| Debt – non-priority | See Priority debt section above & Saving tips section below Online – Money Advice Service. Budget planner www.moneyadviceservice.org.uk/en/tools/budget- planner |
| Employment | Online – ACAS – www.acas.org.uk |
| Bank or Financial Provider problems (Only if provider has been dealt with in first instance of complaint) | Online – Financial Ombudsman www.financial-ombudsman.org.uk |
| Addictions (Non-critical that may impact finances) | Multi agency support – Alcohol – Drink Aware www.drinkaware.co.uk/alcohol-support-services – Drugs – Talk to Frank – www.talktofrank.com – Gambling – Gamcare www.gamcare.org.uk – Personal – Samaritans – |
The following is a general good practice table of signposts for young people looking how to best manage their money in non-urgent circumstances:
| Area | Topic | Signposts |
| 1. Making the best of the money you have & developing good habits 2. Keeping on top of your bills and commitments 3. Accessing the most appropriate financial products 4. Planning for changes in housing, employment &/or benefits 5. Savings effectively and becoming financially resilience | Budgeting Discussion on Needs Vs Wants Switching for the best financial products e.g. bank accounts Price comparison on consumer products and utilities Developing savings plans using financial products where appropriate e.g. standing orders or ISAs Consider ways to mitigate risks e.g. have money put aside or take out insurance | General www.moneysavingexpert.com www.moneyadviceservice.org.uk Price comparison websites www.uswitch.com www.moneysupermarket.com www.mysupermarket.co.uk Buying things cheaply www.ebay.co.uk www.gumtree.com www.freecycle.org www.groupon.co.uk www.myvouchercodes.co.uk |
The above tables are indicative and are not exhaustive of places to signpost young people to. The focus should be on ensuring they receive impartial, free information that they are able to digest, understand and utilise in order to become a financially capable and confident generation.