youthmoney

TV presenter Rebecca Wilcox took a hidden camera into various New Look branches to see how store cards are sold.
The conversation she had in one went something like this:
Sales assistant: “There’s no APR for three months. It’s free of charge and literally takes two minutes. Just your name and your address.
Rebecca Wilcox: What did you [...]

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Libby Purves is calling for facts. Financial facts. That’s in today’s Times. She pleads for more arithmetic in schools, and, in particular, a greater understanding of the workings of compound interest.
Fine. Who among us would argue against more sums?
But there is something selective & simplistic, even naïve, about her analysis. And it is not just the [...]

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Barclaycard this week announced changes to its minimum repayments. Most customers see their monthly minimum reduced — from 2.5% to 2.25%. Marks & Spencer is doing similar with its store card.
Which is a great time to warn young people of what happens if you have a large debt and pay off only the minimum. Like, as [...]

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