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Local Offer for young people

My Money

Banks & Bank Accounts

There are lots of different types of bank accounts that can help you to manage your money and some banks will offer you financial advice. For example: how to save money and how to manage or budget your money.

Take a look at the videos to find out more…

Current Accounts

A current account is used to help you manage your money day-to-day it could include paying your bills, receiving money such as you salary from work or any benefits and it helps you to keep track of where your money is going.

When you open a current account you may receive a cheque book and a debit card which you can use to take out money and pay for things.

Savings Account

Savings accounts are used for you to put money away for the future, it could be for emergencies or you can save money to buy a big purchase, such as a car. There are lots of different savings account that offer different rates of interest (for advice about Savings Accounts take a look at the Money Advice Service Website

Where money comes from

There is lots more information and easy read guides about Money and Benefits available on Mencap’s Website


Wages are money that you get for being in paid employment or for doing your job. The amount that you will get depends on how many hours that you work and the rate of pay. This is the amount you will be paid per hour and it will be agreed between you and your employer. For example: if you work 10 hours per week and are paid £8.20 an hour, then you will earn £82.00 per week.

Disability Living Allowance (DLA)

Disability Living Allowance (DLA) is paid for children who live with a condition or disability. Any disabled child or a child with an illness may qualify. It is paid to help with any care or extra costs that they may have as a result of their disability or illness.

For more information take a look at the guide on Contact

Personal Independence Payments

This is a benefit for people who have a long term physical or mental disability and need help participating in everyday life or find it difficult to get around. It’s given to you based on how your illness or disability affects your ability to carry out certain activities, it will be assessed on what help you need rather than your diagnosis.

For more information take a look at this video or the easy read guide.

Personal Budget

If you need help with the cost of your care and support and you are over the age of 16 you may be able to apply for an adult social care plan. The care plan looks at what care and support you may need. To receive this you will need to have:

A physical or mental impairment or illness

Your illness or impairment stops you from doing two or more things that are important to you, they will take into account if not being able to do these things makes you feel very sad and may be affecting your health.

The local authority may help to pay for this support. This is called an adult social care personal budget. Your adult social care plan will be checked every year to make sure that its helping to meet your needs.

More information about Personal Budgets in Telford & Wrekin.

More information about paying for you care in Telford & Wrekin.

How to Pay

Cash – this is made up of notes and coins and is the most common way to pay for things.

Cheques – you fill in a slip in a cheque book with the amount of money that you want to pay and then sign it. The person you give it to will pay it into the bank.

Debit card – this is a plastic card that is linked to your account, you can use it to take out money at a cash point and also use it to pay in shops. You will need a special Pin number to use your card, you must not tell anyone this number.  You will need to have the money you spend in your bank account or your debit card will not work.

Credit Card – this is a way of borrowing money, you can borrow the money to pay for the item and then pay it back.

Direct Debit – This is a way of paying bills straight from your Bank account to a company, you have to give permission for this to be set up.

Internet Transfers – this is a way of paying online, you will need to be signed up for internet banking and then you can transfer money between bank accounts.

There is lots of information about how to keep your money and personal details safe online.

Take a look at the advice on Barclays website to see how to avoid Scams.

How to Budget & Saving Skills

It’s important to learn how to budget your money carefully, this is so that you don’t spend it all on the day that you get paid! Budgeting means that you will have enough money to last until your next pay day and you can work out how much you can afford to save. Sometimes you may need help to make decisions about money, it’s important that you ask someone who you trust like a parent, relation, a trusted friend or you can choose an appointed person (this should be a person that you trust).

There are organisations that you can ask for help such as Citizens Advice to learn budgeting skills and some banks will offer community support to learn money management skills such as Barclays LifeSkills.

Do you need it or do you want it?


Spending and Saving

The Cost of borrowing

Getting Advice

Shopping Around