Whilst buy-now pay-later have become a popular payment method for thousands of consumers shopping online, there have been anxieties and increasing debt concerns when having to pay monthly installments. Payments through buy-now-pay-later reached £2.7bn in 2020 alone (The Guardian).

With the first set of children with Child Trust Funds due to turn 18 on 1st September, many teenagers are set to miss out on their Child Trust Fund money which has been accumulating interest for nearly two decades. HMRC estimates that over 700,000 of the Child Trust Fund accounts originally set up have been ‘lost’ or forgotten about, meaning a significant amount of the money provided by the government will remain unclaimed.

At the Just Finance Foundation, we are on a mission to:

1) Ensure everyone is reunited with the money in their CTF

2) Ensure that CTFs are used wisely in this difficult financial climate

Our response to the Government’s consultation on PSHE arguing that financial education should be made a compulsory at key stages 1 and 2.