Simon Read: Charities offer hope for kids confused by cash

I was pleased to hear this week that there is going to be more financial guidance for young people. Some 20 charities are grouping together to use their collective power to give more children and young adults the knowledge to help them take charge of their money.

The charities all separately work to promote financial education and enterprise education but together they've launched a new movement, which they're calling Take Charge.

It was conceived by financial education charity the Personal Finance Education Group (PFEG) but it has brought on board lots of other well-known charities that do excellent work in financial education including Brathay Trust, Girlguiding, The Prince's Trust and Young Enterprise.

I reckon that if youngsters understand how to budget and spend sensibly, they can avoid falling into a debt spiral and becoming easy prey for unscrupulous lenders. So this movement could prove a really positive idea. There are more details at www.takechargeuk.org