West Midlands Children Receive Financial Education
Topics: birmingham, financial, eductaion, west, midlands, loans, secured, home, personal, unsecured, loan
Those living in Birmingham could be set to be in a more capable position to manage unsecured loans and other financial matters in later life, it has emerged.
The news comes as a number of bankruptcy officials have visited 20 secondary schools across the West Midlands city educating young people on how to handle their money. Led by Tony Supperstone, the team of experts from R3 - the Association of Business Recovery Professionals - are also teaching schoolchildren on how to avoid getting themselves into an untenable situation where they will be unable to meet debt repayments. The experts worked together with the children on areas such as overdrafts and understanding what interest is. He pointed out that there is a “gap” in the current curriculum when it comes to teaching young people about loans and debt, the Birmingham Post reports.
Mr Supperstone told the publication: “We are trying to get them as early as possible before they start entering into credit card arrangements and taking out all kinds of debts they can’t afford to repay. It is early days yet, but this is a national initiative that we have started. We are going around the country asking our members to go into local schools. There is a gap there in education. We think it should be a compulsory part of the curriculum, but in the meantime we are having to fill the gap.”
However, R3 is not the only company calling for an increase in the nation’s financial literacy, which could consequently improve consumers’ attitudes towards savings, budgeting and borrowing, the latter of which could include methods such as secured loans, overdrafts and plastic cards. According to Debtmatters, financial literacy needs to be at the heart of school curriculum as a number of children are leaving education with good exam results and qualifications but little understanding on how to manage their money. Michael Shirley, operations director for the debt solutions firm, suggested there is “a growing proportion of the population that has little experience or knowledge of how to manage their personal finances”.
Meanwhile, the West Bromwich Building Society is due to launch an online game, targeted at primary schoolchildren, which aims to help them to develop money management skills which can be transferred into later life. Brian Seymour-Smith, spokesperson for the financial services firm, said: “Unless you have skills handling money you face the danger of getting into debt in later life which closes all kinds of doors.”
And although such moves have been targeted towards young people, those Britons who are old enough to have already taken out a personal loan are being advised to take the time to consider their own borrowing. Earlier this year, Moneyfacts analyst Lisa Taylor stated when “used wisely” personal loans, overdrafts and other types of credit can help people manage spending through various ups and downs. However, she advised borrowers to always make more than the minimum repayments whenever possible so as to avoid facing “a lifetime of debt” as they would otherwise be servicing their debts over a much longer period of time.
Tom Dawson writes for Essentially Home Loans where visitors can apply for secured personal loans online, we also specialise in bad credit secured loans for UK residents. Visit Today: www.essentiallyhomeloans.co.uk
Previous Articles Highlighter:
Rising Property Prices (1)
Low interest rates tend to increase the property prices as well. When this happens, banks giving loans get to charge higher rates of interest creating credit double fold. For most property dealers this period becomes a quick way of becoming rich in a short time.
Invest In A Recreational Vehicle (2)
Larger models offer full bathrooms, installed refrigerators, living and sleeping areas, satellite television and internet access capabilities. Ranging in size and prices, there are basically three kinds of motor homes.
So What Is Contract Hire And What Are The Benefits? (3)
Off Balance Sheet Funding - Contract hire is what we call an Operating Lease this basically means the vehicle doesn't depreciate on the company's balance sheet. Monthly payments are viewed as an expense in the P&L account Fleet Management - No matter how small or large your fleet of vehicles is, with Contract Hire we will manage your vehicles, ensuring the mileage is tracked to advise you if any of your vehicles are going over the permitted mileage set out at the beginning of the Contract Hire agreement, we will also call you three to four months before the end of the contract ensuring a smooth change over into a replacement vehicle and generally manage the administration of your Contract Hired fleet.
You Can Stick To Your Budget (4)
After you make a purchase using your debit card, when you mark it down in your checkbook, round the figure up to the next dollar. At the end of the month, transfer the difference you've accumulated to your savings account or use it to pay off high interest debt.
Renting Your House (5)
- Repair ceilings, kitchen cabinets, existing wallpaper, closets and doors. Make sure your contractor will take care of your bathroom damages and ask him to replace the bathroom tiles that have been damaged by the previous tenants or owners.
A New Need For Secure Webconference - The Rising Prices Of Energy (6)
Resistance to change is understandable. However, with the current surge in energy costs now upon us, the old "face to face" meetings may soon be a thing of the past.
Financial Ratios In Sports (7)
Thus, if it is to be effectively interpreted a ratio must be systematically compared with other ratios of the examined company, or even the industry competitors during a specific period of time.
US Should Not Continue Tightening The Economic Grip On Cuba (8)
Meanwhile, the regulations accompanying the decision to streamline procedures for licensing purchases of supplies and health care equipment, rather than making trading more flexible, have in fact created more obstacles, according to local experts.
Moving In Your New Home (9)
It will be really frustrating having to deal with contractors or paint while all your possessions are located inside the house. - Check to see that all possible damage, like wet wood conditions or walls' deterioration.
Choosing A College Savings Plan (10)
The money gains tax-free interest and there is no tax assessed on the principle if it is withdrawn to cover eligible college expenses. The current tax rules will be in effect until 2010, but even if Congress does not reauthorize that section of the tax code, tax will still only be applied to the earnings on the account, not the principle.
Selling Your Home (11)
But there is no need to panic that while being short on money you will have to invest in expensive and time-consuming renovations and redecorations. With some simple steps, it is possible for you to show your house to its very best advantage and gain the deal you want during the time period you wish.
Rental Housing Predicament (12)
If the builder intends to let out housing stock to prospective lodgers for earning legitimate income he has a few legal safeguards. Some laws put the entire burden on the owner for repair and maintenance leaving no possibility for him to recover the damage caused by the tenants.
Real Estate Economics At A Glance (13)
The real estate market is huge with two basic forces running it that is demand and supply of real estate. There are owners and tenants and their money capital that they are willing to invest in the properties.
Is Electronic Banking A Good Idea? (14)
It can also be used to pay bills once your accounts are set up for online transactions. Online banking can be used for personal accounts or for commercial accounts.
The Lure Of The Get-Rich-Quick Scheme (15)
There is a definite risk involved with applying to these types of schemes. You could end up completely losing the time and funds you invested for the dream of quick money.
Pay Off Debts And Enjoy Your Golden Years (16)
So it is essential to have in place a sensible debt management system. Such a system would go a long way in helping the debtor manage his finances. Not just do you need to responsibly repay all your dues, you also need to be able to afford your daily expenses.
Give An Asset And Take A Loan (17)
What this means is that the bank will take possession of the property and dispose of it in any way that it desires in order to obtain the money due to them.
Planning By Others For Yourself (18)
There are a number of professionally qualified people who have been in the financial industry for years together and who have great knowledge of the way in which the markets operate.
Private Long Term Disability Insurance (19)
If your occupation allows for exceptionally high earnings you may need to purchase a special type of private long term disability insurance that will lock in that level of earning should you become disabled.
Six Steps Toward A Bad Auto Loan (20)
With that research, it will enable you to drive away with your new car - happy with the deal you got. Joe Kenny writes for the UK personal finance sites offering loans, credit cards, mortgages and insurance products - www.ukpersonalloanstore.co.uk and www.nationsfinance.co.uk.
Newer Articles Highlighter:
Many People 'Struggling' With Finances (1)
Meanwhile, David Fleming, national officer for trade union Unite, claimed that money worries are the largest single cause of stress and depression for British employees. Abbi Rouse writes for All About Loans.
Car Owners 'Lack Sufficient Security' (2)
Recent research from GE Money Home Lending revealed that converting loft space into a further room can increase the value of a property by as much as 22,000 pounds. Tom Dawson is the Editor in Chief for Essentially Home Loans where visitors can apply for cheap loans online.
Property Rights And The EU (3)
Although the Treaty does not provide any exceptions, the Court has held in the past, that charges levied for tasks required by EC Law or charges for services rendered, do not breach Article 25 (ex Article 12).
Use An RSI Indicator To Make Your Forex Trading More Profitable (4)
One important thing to always remember when you are using the RSI indicator on your charts is that the main purpose of this oscillator is to convey the current strength of the market, and whether or not a trend is likely to continue or reverse.
Health Insurance Online Quote In Seconds For Small Business (5)
It is important to employees and can be the difference between attracting top notch employees who stay and mediocre employees who increase the turnover rate. Employee health care is well worth the time and cost.
Does Your Forex Broker Really Want You To Profit? (6)
A forex market maker does this by taking an opposing position to every trade you place, but an ECN broker does this buy routing your trade order through their communications network and matching it with another trade (for example, if you placed a buy order on a certain currency pair, the ECN would match you up with another trader selling that same pair).
Individual Retirement Account Rollovers (7)
A company-sponsored 401(k) plan, by comparison, places severe restrictions on employee access to accounts. You do not have to take an IRA rollover even if you retire or leave the company.
What Are Specialty Insurance Policies? (8)
This can be done online, if you wish. Another way to find reputable insurance carriers is to ask the people from which you bought the item. In the necklace example above, you might want to ask the jeweler with whom he does business with.
What Is Forex Autotrading, And Why Should You Care? (9)
Topics: forex, forex trading strategy, mechanical trading, auto trading, autotrading, technial forex trading If you are a forex trader, you are probably aware of the large profit potential that this market possesses.
Tampa Real Estate: Is It A Good Investment? (10)
Third, the drop in foreclosures, couples with other factors, will work to free up more money being available for home mortgage loan purposes into the more immediate future. Thus, while some consumers may have been frustrated in finding financing at what they considered to be reasonable rates, these same men and women should be able to find appropriate lending and financing options, certainly after the first of the year.
How To Increase Your Income (11)
At the moment you stop working, your money stops so again, there's no leverage, there's no scalability. So in other words, you literally sell your time for money. So, what makes a person earn more than another person?
Tampa Real Estate Agents: Finding The Right Professional For Your Needs (12)
By selecting an experienced agent, you will have a far better chance of selling your home in the shortest amount of time for the price at which you initially list the property for.
Profitable Forex Trading Strategy (13)
It is therefore also going to be the case that non-stop improvement of the strategy and the skill of the trader will take place, and the strategy, even the instrument traded may change dramatically over time as more information is gathered and the trader becomes more familiar with their trading style and themselves.
Forex Trading Multiscreen Setup... (14)
OS: Windows XP Professional Service Pack 2 Processor: 1.4 Gigahertz AMD Sempron Circuit board: ASUSTek Inc. K8VSEDX RAM: 1024 Megabytes (1 Gigabyte) DVD/R + 120 Gig HD (optional) Display: RADEON 9600 SERIES (primary and secondary) - monitor 1 + 2 SiS 300/305/630/540/730 - monitor 3 SoundMAX Digital Integrated Audio ULTRAMON (open source multiscreen tool) 4 USB sockets 3 x HSD HN198D 19" monitors In other words there is a graphics and video card taking care of the monitors, the graphics card running 2 of the monitors and a second insert a video card which allows the third monitor.
What Are Investment Bonds (15)
Some are exempt from federal taxes. Other states waive the state and local income taxes to offer reasonable bonds. Sean Rasmussen is a stock market and property investor, internet marketer and success communicator.
Why Online Car Loan Companies My Be Your Best Bet If You Have Bad Credit (16)
You run the risk of ending up in a situation where you'll owe more than what the car is worth. Gregg Hall is an author living with his beautiful wife and family in Navarre Beach Florida.
Finding Student Loans To Fund Your College Education (17)
That student must first complete a FAFSA, and then he or she must sign a master promissory note (MPN). If the loan recipient then needs to talk with a counselor about the loan, those services can be obtained at the Direct Loan Servicing Site.
Lease Options : A Great Way To Make Money In Real Estate (18)
In a lease option scenario you would take control of the property by leasing it from the owner with the option to buy it. When you lease the property from the owner of course "subject to" their existing mortgage you must have in your lease agreement the right to sublease to a tenant buyer.
Business Credit Cards: A Way To Help Track Business Expenses (19)
That being said, a business credit card is a great tool for any business to have. Just make sure that the card is used for business purposes only. Kerry Ng is a successful Webmaster and publisher of The Great Credit Card Tips Blog.
Consolidate Student Loans - Why, How And When (20)
A reputable loan provider carefully examines all the possible ways that a student's rate might be made lower. The loan provider then establishes that low rate as the rate for a consolidated and extended loan.
Permalink to West Midlands Children Receive Financial Education