Money

Whatever you get – pocket money, benefits, wages – it’s important to make the most of it. Even if you have a lot of money, it’s easy to waste it; and when you only have a little, managing it is even more important.

It is a good idea to have a bank account by the time you leave school as many training providers and employers will pay your wages directly into the bank. You will also need one if you claim Education Maintenance Allowance.

Current accounts let you put money in and take it out easily, but do not pay much interest. You may get a cheque book and cashpoint card at 16. Savings accounts pay more interest but it will sometimes take longer to withdraw money: they are useful if you want to save up for something.