Independent Financial Advisers For The Young
Keywords: Independent, Financial, Adviser, Advisor, Mortgage
In today’s day and age, it is all too easy to get into debt. Particularly for the young. And the average young person would not consider an Independent Financial Adviser. Many turn to their parents for advice but according to a study conducted by NatWest bank, these youngsters are unhappy with the advice given.
This is because the older generation did not have to deal with such things at such a young age. Further education was only for the well off but these days, if you want to get anywhere, then further education is a must for everyone. Competition for good jobs is strong and anything that can be done to better your chances, the better.
In the news just this week was the case of a young woman who had tragically lost both her parents within a short space of time. Working part time to try and fund her further education, she had to move in with her half sister and was unable to pay any rent. Thus already starting out on that downward spiral of debt.
Easy to say after the event, but independent financial advice is a must for people of all ages. For those with young children, it is a security measure for their future as well as our own. It also imparts parents with the knowledge that they can pass on when their own offspring are taking on their own financial obligations.
Much of the debt young people are stuck with begins before they even get to work. Student loans are the main problem. Where grants used to be awarded by the Government for further educatiion, it now comes down to the individual to pay their way. Immediately, they are in debt with many working long hours after studies to try to re-pay what they owe more than likely jeopardising their studies at the same time.
Another difficulty is the never-ending advertising and offering of easy credit to the young. Socialising is high on their priorities and to keep up with this easy credit is an option that just leads to further debt.
Even if the finances are manageable at college or university and you can walk straight into a job that doesn’t mean you don’t need an independent financial adviser. Good money management at this stage is crucial to avoid problems later on.
Spiralling debt leads to stress and depression thus leading to a lack of motivation to deal with the problem, time off of work and less finances to repay the debt.
With the precarious job market the way it is, a job for life no longer exists. Many people take on debts and payments plans thinking that their current situation can continue but that is not neccessarily so. All of a sudden you can find yourself out of work with creditors banging on the door and no means of repayment.
The only advice for the young woman at the beginning of this article was to have a baby - that would get her more benefits. That would also get her more debt! Many young people with children of their own will struggle to get what their children need due to an inefficient benefits system and resort to easily obtainable mail order catalogues.
An independent financial adviser would be more likely to help her manage what little money she has to avoid the pitfalls of drowning in debt. The misconception that independent financial advisers are there for people with plenty of money is wrong. They are there for anybody that needs good advice on their finances - and that probably means all of us.
Financial expert Shaun Parker looks into the impact of debt that an independent financial adviser could avoid. To find out more please visit www.pennypeople.co.uk
Previous Articles Highlighter:
The Importance Of Maintaining Employment Software Services (1)
Perhaps the most important concern among the clientele that uses an employment software system is the timeliness in which it's available and functioning. The very success of an employment software system is directly dependent on its capability to handle hundreds to thousands of requests per day.
Making Work Available Through Recruiting Software (2)
And without such a system, it rather easy to understand the hesitation (expressed as recruiting software inactivity). This is a little like holding up a sign that says "Trust me....
How Easy Is It To Get A UK Commercial Mortgage? (3)
The broker will, in most cases (90% of the time), charge you nothing for his services, always check this before you proceed with a broker. Only being rewarded himself by the lender after you complete.
Is Bridging Finance For You? (4)
They will shorten the entire process as a specialist will know the market and they can quickly make a judgment on the best loan for you, based on your particular circumstances.
Cashing In On Your Spare-Time Interests (5)
Sometimes what seems like a career actually begins as a hobby for someone. Many couples that are adept at home repairs have a hobby of investing property, fixing it up, and flipping it into a profit.
Why Use Bridging Finance? (6)
A Short Term Solution Bridging Finance can bridge a financial gap. But it should never really be considered a permanent solution. A more permanent solution in the form of a regular mortgage should be considered if the property is to be held on to long-term.
How To Check Your Credit Rating And How It Affects You (7)
Believe it or not there is a history of all the debts you've had in the past ten years or so, and special note is made of anything that has gone wrong.
Is A Debt Consolidation Loan For You? (8)
Be wary of being offered small monthly payments without considering the considerable number of years you may have to pay that small monthly figure. Be Wary Of Other Credit Cards Something else to be aware of when taking on a debt consolidation loan is how tempting it can become to take up an offer of a new credit card.
Whole Life Vs. Cheap Life Insurance (9)
It will remain in effect until you die provided you do not allow it to lapse or be compromised in some other way. In addition, the amount you pay for the premium will never change which makes it easier when you're trying to budget.
Securing Commercial Finance (10)
Revenue The amount of revenue generated on a regular basis. This can be weekly, monthly, quarterly and even annually to see if the income is there to support the payments on the Commercial Finance package.
Newer Articles Highlighter:
Getting Out Of Student Debt (1)
The second problem is that credit cards require an almost immediate payment as soon as something is charged to them. The usual time before the first payment is due is often less than two months from the initial time of the charge.
Article Marketing Services And Tools (2)
Some of these differences are reflected in the services and tools that are available online. Most of the article marketing services and tools, whether you are talking about search engine marketing, SEO or something else, can be divided into a number of different categories.
The Perils Of Unemployment (3)
If we could get out of this little village maybe we could find something of more substance, something to sink our teeth into. So there began our search for Essex jobs, we started looking in the local newspapers but seemingly half a page of job vacancies was deemed sufficient space, sadly it was not.
Finding Commercial Glass Repair In Houston That Is More Than Adequate (4)
David Warren is owner of Apple Glass Company, a glass repair and replacement firm that serves the Houston, Dallas and Fort Worth, Texas markets. Contact David Warren at 281-440-1292 or visit www.appleglasscompany.com to schedule a service appointment.
How To Find The Most Profitable Business Idea (5)
To get a profitable idea, start by searching within yourself. Take a look at your skills, your experience, and the expertise that may have gained by working in a particular field for several years, or by the way of formal education that you have received.
Adverse Mortgage: Shortcut To A New Home (6)
Be sure that you understand what the loans terms are however and how each payment will affect the total balance. Knowing what you are getting yourself into is a way to be responsible with your finances and make the right decisions overall.
Best Places To Buy Cheap Camping Gear (7)
Large shopping malls such as K-Mart or Wal-Mart are great choices for purchase of cheap camping gear, with basic camping equipment available within a wide range of budget-frames. The only up-side to cheap camping equipment is the lowered price tag, but there's not much coming your way as far as durability is concerned as this type tends to disassemble - on you sometimes - and is thus avoidable for those that intend going on more camping holidays.
The Video Camera Reigns Supreme (8)
The recorder writes the video signal on to a magnetic videotape or disc. The time and date are also recorded. From ancient times man has been desperate and keen to capture in time what is fleeting and transitory.
Happy Birthday Cards: A Special Gift On A Special Day For A Special Person! (9)
Remember, the design would vary on how you picture your craft. 3. Creating a crafty design. In designing your card, you must take into consideration the recipient?s personality and relation to you without sacrificing the art of your craft.
Protecting Your Home: Outdoor Security Cameras (10)
Proper measures must be taken to ensure that intruders cannot just come and go from your home, especially during nighttime. Aside from your material possessions, your home is where you and your family share the most memorable moments in your everyday life and you should take steps to prevent thieves and intruders from physically getting into your house.