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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`

Youngsters need lessons on avoiding debt

22/07/2009

Experts have called for young people to be given lessons on personal finance to help them avoid the kind of debt problems experienced by many people today, according to Sky News.

The Personal Finance Education Group (PFEG), an independent charity, is holding a `My Money` financial learning week, aimed at educating the next generation of potential borrowers.

PFEG was established in 2000 by a group who were concerned about increasing levels of debt amongst the under-40s, according to Sky.

A spokesperson for Debt Advisers Direct said: "Many people haven`t had any formal education on how to manage their finances, which may be a contributing factor to the debt problems a lot of people are currently facing.

"Hopefully the `My Money` week will encourage young people to take a cautious approach to managing finances - now and in the future - which could help to minimise debt problems in later life."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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