| In today's day and age, it is all too easy to get into | | | | Another difficulty is the never-ending advertising and |
| debt. Particularly for the young. And the average | | | | offering of easy credit to the young. Socialising is high |
| young person would not consider an Independent | | | | on their priorities and to keep up with this easy credit is |
| Financial Adviser. Many turn to their parents for advice | | | | an option that just leads to further debt. |
| but according to a study conducted by NatWest bank, | | | | Even if the finances are manageable at college or |
| these youngsters are unhappy with the advice given. | | | | university and you can walk straight into a job that |
| This is because the older generation did not have to | | | | doesn't mean you don't need an independent financial |
| deal with such things at such a young age. Further | | | | adviser. Good money management at this stage is |
| education was only for the well off but these days, if | | | | crucial to avoid problems later on. |
| you want to get anywhere, then further education is a | | | | Spiralling debt leads to stress and depression thus |
| must for everyone. Competition for good jobs is | | | | leading to a lack of motivation to deal with the problem, |
| strong and anything that can be done to better your | | | | time off of work and less finances to repay the debt. |
| chances, the better. | | | | With the precarious job market the way it is, a job for |
| In the news just this week was the case of a young | | | | life no longer exists. Many people take on debts and |
| woman who had tragically lost both her parents within | | | | payments plans thinking that their current situation can |
| a short space of time. Working part time to try and | | | | continue but that is not neccessarily so. All of a sudden |
| fund her further education, she had to move in with her | | | | you can find yourself out of work with creditors |
| half sister and was unable to pay any rent. Thus | | | | banging on the door and no means of repayment. |
| already starting out on that downward spiral of debt. | | | | The only advice for the young woman at the beginning |
| Easy to say after the event, but independent financial | | | | of this article was to have a baby - that would get her |
| advice is a must for people of all ages. For those with | | | | more benefits. That would also get her more debt! |
| young children, it is a security measure for their future | | | | Many young people with children of their own will |
| as well as our own. It also imparts parents with the | | | | struggle to get what their children need due to an |
| knowledge that they can pass on when their own | | | | inefficient benefits system and resort to easily |
| offspring are taking on their own financial obligations. | | | | obtainable mail order catalogues. |
| Much of the debt young people are stuck with begins | | | | An independent financial adviser would be more likely |
| before they even get to work. Student loans are the | | | | to help her manage what little money she has to avoid |
| main problem. Where grants used to be awarded by | | | | the pitfalls of drowning in debt. The misconception that |
| the Government for further educatiion, it now comes | | | | independent financial advisers are there for people |
| down to the individual to pay their way. Immediately, | | | | with plenty of money is wrong. They are there for |
| they are in debt with many working long hours after | | | | anybody that needs good advice on their finances - |
| studies to try to re-pay what they owe more than | | | | and that probably means all of us. |
| likely jeopardising their studies at the same time. | | | | |