APACS launches advice guides for young adults
The UK payments association, APACS, has introduced 2 new advice guides which provide simple and sensible financial advice for a teenager or a young adult.
The guides are titled “choosing cards” which is for the under 18s and the second “using cards” is for their parents. The guides form part of a series of consumer advice guides produced by APACS.
Research conducted by APACS discovered that 86% of 18-24 year olds hold some kind of plastic card. The guide will explain the range of options on offer to young people and identify the benefits of choosing a particular card. Furthermore, the guides also provide top tips on how to keep a card safe from fraud.
A spokesperson for APACS commented that an increasing amount of money is being spent by young people and it is crucial that they make a careful decision before choosing which product they use. The guide for under 18s provides simple and straightforward advice for young people who are thinking about acquiring a credit card.
The spokesperson concluded that an important life skill for a young person is being able to handle their finances, the guides provide both young people and their parents a handy introduction to some of the issues that will arise.