By YOUNG MONEY Staff
23 June 2010

Having the most up-to-date personal finance information can help younger people set themselves up properly.

Hence, microblogging websites like Twitter are growing in popularity among financial institutions. Count Charles Schwab as one of those, as the company said its SchwabMoneyWise.com site will be posting items on an account at @schwabmoneywise.

Along with posting personal finance advice, the Twitter feed will give people in their 20s the chance to engage in a dialogue and ask questions.

"We can no longer simply talk at this generation," said Charles Schwab Foundation president Carrie Schwab-Pomerantz. "Social media isn't just a place where young adults spend their time, but it's also a place that allows for a two-way conversation."

Launching the Twitter account is part of a larger financial campaign from the company. Other features include the Money Mondays effort, which will call on younger people to set aside some time on that day of the week to think about their personal finance status.

Other groups have also hopped on the Twitter bandwagon, including the California Department of Insurance, which plans on posting alerts and educational posts through its account.