Children’s education on money matters should begin in primary school so conumers know how to manage debt in adulthood, a financial expert has claimed. Zoe Stevens of Confused.com said financial education would help the consumers of the future learn to maintain a high credit rating so they can access the best value loans and credit [...]
The recession has helped young people learn than “money doesn’t grown on trees” according to one financial expert. Jasmine Birtles, founder of moneymagpic.com, said the recession has helped to give children a financial education. The credit crunch has taught children that if they want something, they need to earn it, Birtles claimed. “It’s made a [...]
Tony Hobman has been appointed by the Financial Services Authority (FSA) to run the newly created Consumer Financial Education Body (CFEB). The CFEB is aimed at enhancing consumers’ financial education and their ability to manage their finances. The newly-established CFEB comes at a time when the Government is concerned that a lack of financial knowledge [...]
Since the onset of the credit crunch schools are increasingly teaching their pupils money management skills, a financial education charity has claimed. The Personal Finance Education Group (PFEG) said it has seen a swell of interest in its programmes because of the recession. PFEG’s school programmes are “more sought-after now because of the climate,” said [...]
Former James Bond actor Roger Moore believes encouraging investors to put their money into ethical businesses is simply a matter of education. Writing in the Daily Mail on the way poultry is treated to produce foie gras, Moore said: “There are vile and inhumane practices all over the world, but I have always been a [...]
The cost of putting their children through university is forcing some parents to remortgage their home, The Children’s Mutual revealed this week. Students starting university this year will spend an average of £42,000 during their three-year course, and many parents will be expected to fund the majority of this bill. “University can be as much [...]
A university degree is no longer enough to secure a good graduate job, a recruitment expert said this week. Tom Hadley, director of external relations at the Recruitment and Employment Confederation (REC), said companies now look for relevant skills and work experience in addition to a stint in higher education. Many employers now take a [...]
Two documentary-style short films released this week aim to educate young people on how to avoid the debt trap. Produced by the Citizens Advice Bureau (CAB), the films were created in response to recent research highlighting the detrimental effect that debt worries have on the lives of young people. The study by YouthNet found that [...]
Parents are actively teaching their children about the recession, research by Co-operative Child Trust Funds has discovered. More than half of British parents have taken proactive steps to educate their children on financial matters since the onset of the credit crunch, the poll found. Talking about the economy is now a regular feature in many [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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