Established in 2011, the Young Money blog was the first British blog to help young people understand personal finance.
Since then, it has become a movement that seeks to represent and empower a generation when it comes to money – at a time when our financial habits are in the spotlight.
Here’s everything you need to know!
All young people should be financially knowledgeable, confident and in control of their futures. This is essential for individual, economic and social progress. That means promoting real choice and opportunity and moving away from a system that drives apathy, unfair sacrifice and learned helplessness.
- a truthful, fair and informed view of the financial sector
- policies and regulation that genuinely serve OUR interests
- representation at all levels so that we can properly shape our financial futures.
Young people feel confused and often hopeless about their finances. Today’s younger generations are widely predicted to end up poorer than their parents – an unprecedented step backwards.
Millennials have only ever known a discredited banking system, woeful interest rates and a broken housing market. We have NO incentives to save money. We’re told we must work longer and pay more into pensions from strained wages. Student loans weigh heavily on graduates, many of whom feel they were overcharged and under-served by universities.
Most of us aren’t tuned into investing, so we miss out on greater returns and the opportunity to become proper stakeholders in the economy. Financial advice and the traditional media cater mostly to older asset-owners, forcing younger people to go online for their financial information. Unfortunately, the internet rarely helps us with our money – instead, it’s a Wild West of underhand marketing tactics, product pushing and data misuse.
Generation Y was the last to miss out on mandatory financial education – and the first to really suffer for it. Credit is easily accessed but chronically mismanaged, to the advantage of lenders who often target young borrowers.
Financial technology is alluring, but poorly understood and fraught with caveats. Yes, we’re enjoying the freedom and convenience offered by the internet, but it’s a short-term consolation prize. What we’re missing is ownership, enfranchisement and a proper say in our financial system. This is where the Young Money Mission comes in!
The Young Money blog covers the key financial issues that young people should know about. It’s honest, irreverent but above all sympathetic. We have access to high-level research, industry events and policy conversations, deeply informing our coverage.
Young Money is also working hard to convince the financial industry, policymakers and media that things must change. At the moment, their approach to young people’s finances can be patronising, hectoring and harmful.
“More of the same” is not the answer. We need radical, imaginative and sympathetic thinking if we are to change young people’s financial futures. It won’t be easy, but the risks of neglecting young people are too grave to ignore. We are today’s taxpayers and savers, tomorrow’s leaders and caregivers. To quote the popular American bumper sticker: “Look after us – because we’ll choose your care home.”
The blog aims to be:
- Non-profit – the blog doesn’t host advertising or guest posts from companies. We also don’t funnel you into buying products via ‘lead generation’.
- Authentic – the blog is researched, expertly sourced and thoughtfully written by a young person, for young people
- Independent – Iona’s ass is not owned by larger commercial interests. She is free to choose what to write and how to write it
- Ethical – we favour doing right over what’s expedient, profitable or fashionable. The blog is written by a journalist – no fake news, click bait or glorified press releases here.
The blog is subsidised by a commercial arm, Young Money Agency, which fields a wide range of offers to spread the Young Money mission, such as public speaking, writing and consultancy. We only work with companies that strongly support Young Money’s aims. Iona also works as a freelance journalist, presenter, broadcaster and commentator.
Readers – get stuck in! We’re looking for questions, feedback and views. Is there something you’d like the blog or crash course to cover? If your contribution is genuine and non-abusive, it’s more than welcome. You can:
Kindly note that the Young Money Blog does NOT do paid or unpaid guest posts for either advertising or SEO purposes.
Please don’t get in touch offering these things, as you will be better off watering the plants/watching a box set/getting a tattoo of a unicorn. You will be ignored, and if you send pointless follow-ups when you are ignored, you may receive a chastening email reminding you of this paragraph, with an extra call-out on social media for being such a dumb-ass. You have been warned!
Iona here – yes I am weird. Some might say masochistic – after all, I’ve made it my life’s work to talk about young people’s finances. I would have had a much easier time flogging lip liners. (Dammit, I wish someone had told me that seven years ago.)
Still, I wouldn’t do anything else. And let’s face it, if I didn’t exist, you’d have to invent me. It’s a good thing I’m up to it. Find out more about me.
The Young Money Blog’s purpose is to provide guidance and solidarity on some complex issues. All written content on this site is for information purposes only. Opinions expressed herein are solely those of Iona Bain and other guest writers unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by the Young Money Blog as to another parties’ informational accuracy or completeness. In fact, we would urge you to be cautious at all times when dealing with online information surrounding money, unless authors can provide comprehensive and truly transparent accounts of their business models.