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