Barclays woos debt-laden millennial generation with video-chat advice service

Barclays woos debt-laden millennial generation with video-chat advice service

Cash-strapped millennials fearful of falling behind on their finances can now book in for a one-to-one video chat with a Barclays mentor to talk about their money problems.

Barclays is launching the programme, which is open to non-bank clients, on the back of research which shows that over a third of debt-laden millennials are too afraid to check their bank balances.

The research shows that 'fear of finding out' hits hardest each month just after direct debits have been taken out, with 23% of young Brits saying this is the date they dread checking their balance the most.

Over a quarter of the sample admitted feeling panicked by how easily they lost track of their spending through the month and nearly half admitted they had lost sleep over the state of their finances.

The new Barclays programme is aimed at helping the younger generation to boost their financial health through informal video and in-branch chats with trained financial advisors.

Josie Clapham, managing director of community banking at Barclays says: “We know that money isn’t always an easy subject to talk about, but it’s an important one and no one should lose sleep because they don’t know where to turn with questions around budgeting, or their money in general.

“Our new pilot programme aims to give millennials easy access to the answers they need to help them manage their money and plan with confidence for their future goals.”

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