OUR COVID-19 MISSION
Dear readers and supporters of Young Money,
This is a frightening and unsettling time. In the space of a few weeks, COVID-19 has turned our lives upside down, and the issues that are worrying everyone right now are health, the welfare of our loved ones…and money.
For nine years, Young Money Blog has been sticking up for the financial rights of our generation. I have been committed to offering advice, commentary and solidarity for young people when it comes to their money. I have also worked hard to keep the blog independent, non-profit and authentic.
Now more than ever, young people need financial information they can trust and a perspective that helps them feel less alone, anxious and fearful about the future. I have also been understandably inundated with questions from readers seeking urgent answers to difficult questions.
It has also been difficult for me to adjust to this new normal as a freelancer who subsidises the Young Money Blog through external work (and has had to relocate for the duration of the crisis). So thank you for your patience while I work hard behind-the-scenes to organise my career and set Young Money Blog up for the next phase.
But fear not – I am redoubling my efforts to offer a one-stop shop for all of you through this time. This will consist of:
- Topical blogs with important news updates, analysis and commentary
- Guides with videos to all the main areas of your money affected by Coronavirus, from the options for self-employed workers to how to financially make the most of Corona downtime
- Iona answers: a regular feature where I answer readers questions and investigate financial problems arising from COVID-19 and
- Campaigning to get the financial industry to treat YOU fairly while this crisis lasts.
Our generation has faced tough times before. We came of age after the brutal financial crash of 2008, and though it is ironic that we were just starting to recover when this new crisis came along, we will survive. Indeed, with challenges come opportunities too – and with the right financial information, attitude and approach, we can come out of it stronger than ever.
Please keep checking the Young Money Blog for news, analysis, guides, answers to your questions and to stay up to date with Iona’s latest calls for action. In the meantime, please take care of yourself and each other.
And remember – don’t get mad (or indeed) sad. Get informed!
Founder of the Young Money Blog
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:
If you want to commission projects through the Young Money Agency, please email here. Please do NOT send enquiries about advertising or commercial guest posts, which the blog does not accept. Please do NOT use this email address for press releases, potential material for the blog or story ideas – these should be sent here.
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.