It cannot be a coinicidence that the apparent withdrawal of prominent young savers schemes has added to the demise in the so called "credit crunch". It was not that long ago that you could not walk down a high street without seeing a "We Welcome Young Savers Sign" in banks and building societies. Our tests revealed that out of 9 random visits only 1 had a leaflet for young savers on display.
Conspiracy theory or fact - you decide. If this country continues to operate in the dark in basic financial literacy by the time your children reach 18 they will more than likely be completely unprepared to handle the credit cards, store cards and student loans that suddenly head their way. Which has been the case for too long already.
Have you ever thought banks might like it this way - if we continue being uneducated in financial terms the banks can charge us interest. If you grow up knowing that compound interest is what the banks should be PAYING you in the long term - then it is you that regains what is rightfully yours.
This post appears today, the day it is revealed that over 1 million homeowners in the UK will not be paying their mortgage this month because of Christmas. Surely it is time the tide turned.
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