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