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Leases You have to • Maintain the flat • Ask permission to change anything • Be a good neighbor: being loud, aggressive or dirty can get you evicted. • The leaseholder advice association has details of all your rights and responsibilities Read every bit of your lease. It will have details of your responsibilities and it is binding Top Tips • Make sure you know what’s included

in the rent and what bills you still have to pay • Take photos of any damages: otherwise you could face the blame for them • If there’s already furniture in the flat make sure it matches the innovatory so you’re not held responsible for missing items See for more advice http://www.rightmove.co.uk/resources/pr operty-guides/renting-guide.html

The Cost of a Car Insurance: what type? • if you couldn’t afford to replace your car go for fully comprehensive • sometimes fully comprehensive is cheaper, so check Insurance- lower the cost • drive safely • drive less • avoid expensive cars or customizing your car • add a low risk second driver (e.g. parents) • be someone else’s second driver • paying it monthly could cost you more Check out “pay as you go” policies. They fit a box to your car that monitors how you drive and charge you accordingly.

Be aware of fake companies, they target young drivers check if your company is registered by the FCA

How to grow up


Tax Income Tax • If you earn less than £9400 than you do not have to pay income tax - if it’s being taken off your pay then contact HM Revenue to stop this. National Insurance • If you earn more than £149 a week you have to pay National Insurance. It will be taken off your wage Council Tax • If only students live in the house/flat then no council tax has to be paid. • If even one non student lives in residence then council tax will have to be paid

Work Holidays • You are entitled to 5.6 x your normal weekly contract hours in paid holiday every year. Pay • If you are aged 16-18 at minimum you must be paid £3.71 an hour • If you are 18-20 you are entitled to £5.03 an hour • If you are 21 and over you are entitled to £6.31 an hour • As an apprentice you are entitled to be paid £2.16 an hour

Working Hours • If you are under 18 you shouldn’t be working longer than 8 hours at once or 40 hours a week.

Student Loans How Much? • you can receive a student loan of between £4500-£6500 depending on your situation (see www.saas.gov.uk to discover what you’re entitled to) Paying it back • You don’t need to pay it back while you’re still studying only once you have left college/uni and are making over £16,365 a year at a rate of 9% of your annual pay • Money can be taken off your wages automatically to repay your loans or at any time you can make voluntary direct to Student Loans Company (SLC) Cancelation You no longer have to pay off the loan if: • You reach age 65 • You die before it’s paid off • You become permanently disabled or unfit for work


Laws Affecting Young People: Baccalaureate Project (Christy Foster)