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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Financial advice offered to young adults

24/06/2008

A new website seeks to guide and inform young adults about personal finance matters, it has been reported.

The Financial Services Authority (FSA) has launched whataboutmoney.info, a site that is also designed to break down any barriers that may stop young people learning about money.

Research from the FSA shows that two-thirds of young people are not planning for their financial future – which could lead to debt problems and difficulties in finding a mortgage.

The Personal Finance Education Group (pfeg) has welcomed the website`s launch as a potential benefit to young people who "have to have to make increasingly complex decisions in a very sophisticated world".

"This provides a resource for them which will help guide them through the maze of decisions they might have to make," Wendy van den Hende, chief executive of pfeg, said.

She added that financial decisions may have effects that last "years, if not decades" into the future.

Nearly four out of five (77 per cent) of young people have experienced personal debt, according to a report from YouGov and youth charity Rainer. One in five of those surveyed had owed over £10,000 due to credit cards, loans and overdrafts as well as student loans.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according