December 4th, 2007
Young People Do Not Know How To Use Their Money
Young people leaving school and heading off to university or on a gap year often do not know the best way to make use of money. According to the Personal Finance Education Group (pfeg), something that can result in them having numerous debts from loans and credit cards in the future.
The educational charity has said that young people realize that going to university is going to be a costly process and that they will probably emerge with debts in the form of loans, leading to them taking a year out to save and try to reduce the impact. “There’s no doubt that young people now recognise that they’re going to be incurring considerable financial expenditure in the years immediately after they turn 18,” said Alastair Mathews, director of policy at pfeg.