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Health and Wellbeing
A Health and Well-being Wales Partner

With most things in life, prevention is better than cure. It’s much easier for young people to manage their finances and avoid potential money worries if they seek advice early on.

This doesn’t necessarily mean getting a financial adviser – although this is a good idea when it comes to mortgages, investments and pensions – because there is plenty of good advice available online. If they decide to use a financial adviser, they should ask friends and family for recommendations.

Getting the best deals

There’s little sense in throwing hard-earned cash away on over-priced goods and services, or worthless investments.

Before making any purchase, be it financial or consumable, it’s important to shop around. Use comparison websites to compare prices online and on the high street.

Remember, if something looks too good to be true, i.e. the cost is unbelievably low or the risk-free investment incredibly profitable, then it probably is.

MoneyHelper explains financial matters including loans and borrowing, bank accounts and financial emergencies in simple terms.

Money Saving Expert has up-to-date information about banking and savings, borrowing, and mortgages. The website also helps consumers get the best deals on travel, utility bills, insurance and shopping generally.

Consumer website Which? has online guides about money, services, products and consumer rights. has tips and guides to all things money-related.

Dealing with debt

No matter what a young person may think, there is no debt problem that cannot be solved. The important thing to remember is there are people out there waiting to help them solve their money worries – just pick up the phone and get in touch.

Stepchange provides free advice to anyone who finds themselves in debt.

The National Debt Helpline believes no-one should go through debt problems alone and offer online advice. Call: 0808 808 4000.

Childline counsellors can help children and young people with money worries. Call: 0800 1111.

Citizens Advice offers advice about benefits, debt and borrowing.

Last updated: 09/03/2023