Young people who leave school and head to university or lag often do not know the best way to benefit from money. According to the Personal Finance Education Group (pfeg), this could give them several loans in the future from loans and credit cards.
The charity says that the youth realize that going to college will be an expensive process and they are more likely to get out of debt in the form of loans, which will help them to try to reduce their savings and expenses for a year. “Young people now find that they will suffer significant financial losses in the years following the age of 18,” said Alastor Matthews, policy director at pfeg.
According to Dan, the decision to attend university should be part of the financial education taught in secondary schools. Fague suggests that in-class discussion between the benefits of going straight to university or availing after high school can be useful, allowing for consideration of issues related to finance and lending – whether personal loans, online loans or By other means -. Matthews suggested that some universities take leave after a year to prepare themselves financially, which could mean that their level of credit in the later years after graduation requires a loan to be loaned. They require less debt to control.
“Young people should be more prepared for the future by getting more financial education while still in school. Part of this financial education can address many of these questions:” Best to spend these years between 18 and 21 What is the method? “Mr. Matthews said.
Pfeg’s policy director said that going to university brings a lot of pressure and pressure on individuals when it comes to financial management, with so-called real-world experience taking special responsibility for money for the first time. According to Mr. Matthews, the idea of a long-term financial situation is part of this: “At university, they have to live independently and make all kinds of decisions about future needs as well as purchases, expenses and savings for current needs. Have to take.
Recent research by NatWest has shown a tendency to look at gaps per year to fund university life, with 54 percent considering staying a year away from school to save some money. According to NatWest data, school graduates are scheduled to earn £ 212 million in the last 12 months before going to university.
In early October, Abhay noted that about one-third of the students who started university in 2007 were doing so without any form of insurance to protect their assets. The financial services provider found that the average student takes 3,300 pounds of property and equipment with them to university, suggesting that the cost of replacing these items not covered by insurance can be very high and even Quick loans may also be required.
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