Figures released reveal the number of personal bankruptcies in the under-25 age group is at record levels and in response the Council is launching an innovative project aimed at highlighting the dangers of serious debt for young people. The ‘Debt Can Be Dangerous’ project has been created and funded by Glasgow City Council, The Institute of Chartered Accountants of Scotland (ICAS) and Scottish Borders Council.

 

The project differs from and complements current fi nancial education materials by concentrating on the best ways of avoiding serious debt and the social consequences that serious debt can cause. The curriculum resource consists of a teachers’ pack, CD-Rom and DVD. The DVD is made up of several short scenes acted by pupils from St Paul’s and Peebles High Schools to illustrate real-life scenarios that young people may face.

 

The pack will be available free of charge to all schools in Glasgow and the Scottish Borders. Welcoming the project, Bailie Gordon Matheson, Executive Member for Education and Social Renewal, Glasgow City Council said: “I am delighted that Glasgow has played a key role in making this DVD and support pack. Debt Can Be Dangerous seeks to inform young people, in an entertaining and relevant way, about the importance of managing money and avoiding the pitfalls of spending more than you can afford.

 

“Education is nothing if it does not equip youngsters with important life skills and this curriculum pack will be a great benefi t to the young people who use it.”ICAS Chief Executive, Anton Colella said, “We see from the fi gures released today that young men and women are especially vulnerable to serious debt.

 

That’s something our members, CAs, are very concerned about, and why we decided to work with Glasgow and the Scottish Borders councils to do something about it. I believe the project will help to deliver a clear message - be sensible with credit and don’t spend what you can’t afford.”