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A Look at Common Types of Loans
People sometimes wonder about common types of loans, especially with all of the different types of loans available. There are many common types of loans that may fall into the same categories, as well as some common types of loans that are only different ...
Money Laundering in A Changed World - Part I
Israel has always turned a blind eye to the origin of funds deposited by Jews from South Africa to Russia. In Britain it is perfectly legal to hide the true ownership of a company. Underpaid Asian bank clerks on immigrant work permits in the Gulf states ...
What Is Cash Flow?
Cash flow simply means the money that comes into and leaves a business or household. Money flows into a business in the form of revenues and out through the form of expenses. Money flows into a household in many forms. Are you receiving money from a ...
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However, as more students get pushed on to the higher education production line and undertake degrees, the once elitist qualification becomes devalued. Suddenly employers find themselves surrounded by graduates of ambiguous quality. Prestigious highly-paid careers are rare these days and graduates find themselves increasingly under pressure to jump through a number of hoops, with many interviews relying on an individual’s ability to sell himself, rather than the basis of the academic work.
Students need to take responsibility for their own finances, while the government seeks our recognition of its actions (educating the unemployed is good for the books … and votes), without the state taking on responsibility (“it’s an investment in your own future”).
Too
many want to bury their heads in the sand and wait for a lottery win to make it all better. With over one trillion pounds of personal debt in the UK, students need to realise that the, "it could be you!" they pray for, is actually an "it is you … in debt" … with trapped wind more likely than wind-fall.
Part of the problem is hopeful expectation (alias denial), part is a fear of controlling your own personal finances (alias apathy), and part is a lack of knowledge (alias ignorance). The first one is difficult, and needs to be overcome by the individual. The other two however can both be overcome by looking for help. Sources of information need to be made available, actively promoted and sought out by consumers.
It’s not like the information isn’t there… there are plenty of financial product comparison sites loaded with information (and pictures): http://www.moneynet.co.uk/ for a start, or http://www.moneysavingexpert.com. The Financial Services Authority has its own finance help information for consumers http://www.fsa.gov.uk/consumer/index.html.
As the saying goes, "Seek and you shall find". It may be a hard lesson, but it is one that we must all currently embrace.
About the Author
Richard works in Edinburgh for a media company, occasionally writing for the personal finance blog Cashzilla ( http://cashzilla.blogspot.com/ ), and drinking too much coffee.
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