youthmoney

Young adults are largely ignored by the personal finance pages of newspapers.
This ignoral is widespread. Bizarrely, it happens even when the story is about them. Daily Telegraph’s story headlined “More than half of parents give almost £12,000 to their children” starts like this:
Scottish Widows said that adult children were sapping their parents and grandparents of [...]

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Young people are largely ignored in the money pages of newspapers. Acres of space is given to information, advice and an awful lot of whingeing from and about older people, who are quite comfortably off but greedy for more. There’s very little attempt to understand or support young people.
Peter Wilby put it succinctly in his column [...]

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A young mother borrowed £1,000 from a doorstep lender to pay for furniture. Two years later she had repaid the company £3,800 at a rate of £159 a month. She still owed £600.
Hers was one of the case studies featured recently at an event hosted by Leeds City Credit Union.
The credit union gave the young [...]

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A couple of weeks ago there was an odd headline in the Guardian’s Money section: “Collapse leaves savers penniless”.
The story told of Streetcred, a Manchester credit union, which went bust with debts thought to be around £500,000.
“Like the collapse of Farepak last year those hit include savers who fear they will be unable to buy [...]

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A lot of people don’t know what a credit union is. It’s not surprising. There aren’t that many. Only one in a hundred of the adult population in the UK belongs to one. And they don’t get a lot of publicity.
Credit unions are non-profit making, co-operative financial institutions, founded on the principle of self-help, usually [...]

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