Alderman joins students in nationwide debt prevention lesson to tackle rising youth debt
Alderman Bert Tuk of Veere participated in a financial literacy lesson at Scalda College, highlighting the growing issue of youth debt. With debt among young adults nearly doubling in five years, initiatives like Moneystart aim to equip them with skills to avoid financial pitfalls and build a debt-free future.
| Key Data Point | Details |
|---|---|
| Program Name | How to Get Rich? |
| Initiative | Moneystart (debt prevention through financial education) |
| Alderman Involved | Bert Tuk (Municipality of Veere) |
| Location | Scalda College, Netherlands |
| Target Group | Young people, particularly those turning 18 |
| Youth Debt Trend | Nearly doubled in the past five years (BKR, Debt Monitor 2020) |
| Program Reach | Nationwide, supported by municipalities |
| Golden Rule Taught | Avoiding debt as the first step to financial health |
Municipalities like Veere play a crucial role in supporting financial education initiatives such as Moneystart, which aim to prevent youth debt through interactive programs. These efforts are part of broader local governance responsibilities to promote financial resilience among young citizens.
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Alderman back in school for financial literacy lesson
On Monday, March 16, Alderman Bert Tuk visited Scalda College, where students were attending the lesson ‘How to Get Rich?’. A nationwide interactive educational program by Moneystart aimed at preventing young people from falling into debt. By participating in a ‘How to Get Rich?’ lesson, aldermen across the country can see and experience firsthand what the program entails and engage in discussions with students about finances, financial worries, and debt.
Alderman Tuk: “As the municipality of Veere, we believe it is important for young people to be financially resilient and build their future without debt. I found it valuable to discuss this with young people during the lesson. It is good that they know how to avoid debt, but also that they know who to turn to for help in time if they do get into debt.”
Money Start supports young people in their desire to get rich by teaching them the golden rule: The first step to wealth is avoiding debt! The number of young people falling into debt after their 18th birthday is rising sharply. In the past five years, the number of young people in debt has nearly doubled (BKR, Debt Monitor 2020).
Moneystart
Moneystart is an initiative that offers debt prevention to young people through financial education, often supported by municipalities. It teaches young people the basic rules of financial health to avoid debt. One of the main reasons young people fall into debt is that they do not fully understand what changes when they turn 18. Youth debt counselors note that this leads them all into the same traps. Money Start’s motto is ‘If young people all fall into debt in the same way, then we can teach them how not to do it’. ‘How to Get Rich?’ is the 9th proven and effective approach that the Financially Healthy Netherlands Foundation brings to the attention of municipalities throughout the Netherlands.