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Achieving economic well-being

 
We asked young people at the Y Factor conference - what does achieving economic well-being mean to you?

The main suggestion was to help young people to make good financial decisions by, for example, providing finance lessons.

Education Maintenance Allowance (EMA) was discussed at various points through the conference. Suggestions were made to run this system in a fairer way so that those not receiving EMA were not penalised and that those that did receive it used it wisely.

What else was discussed?

The main issues discussed were:

  • employment
  • choosing between necessities and luxuries
  • trying to find work or stay in education
  • the need for more student discounts – makes it hard to stay in education sometimes
  • the need for better information on the law (i.e. cycling fines, drinking fines etc)
  • peer pressure.

Changes

If young people took over the provision of services they would like to:

  • increase awareness on employment issues
  • start part-time work at a younger age
  • advertise law better, e.g. on TV or in schools
  • improve morning transport
  • develop a fairer EMA system.

Key question

The key question that came out of the discussion was:

  • Should there be incentives other than EMA to help and encourage young people to stay in education?’

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