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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`

Avoiding another debt crisis - finance lessons at work

09/12/2009

People should be given training in financial matters while they`re at work, according to AXA, `to prevent another crisis in borrowing and personal debt`.

So says an article in trainingjournal.com, an online resource which `gives learning and development the focus it needs`.

As Paul McMahon (AXA`s Corporate Benefits Managing Director) warns, the focus has been too much on the supply-side causes of the recession (e.g. the fact that credit has been available) - and not enough has been said about the demand side (e.g. the fact that people have been looking for credit).

Mr McMahon feels that the right training could help people avoid financial mistakes in the future. "Undeniably some lending practices were indefensible. But there was consumer demand. The lack of understanding of financial implications is what we need to think about addressing."

A spokesperson for Debt Advisers Direct commented that: "Financial education - at any age - can make a major difference to an individual`s ability to manage their money effectively and steer clear of problem debt.

"For people already in debt, it`s important to remember that it`s not too late to find a way out. Whatever debt problems an individual is dealing with, the right debt advice from an expert can help them find a solution."

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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