Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Bank charges: Some young people 'do not budget'

Some young people could be incurring credit card charges because they have not been properly taught about budgeting, an expert has said.

Yvonne Goodwin Wealth Management managing director Yvonne Goodwin explained younger adults find it "very tempting" to use credit to purchase items they want.

They will buy goods without considering how they will repay the loan charges involved in credit, she argued.

This could be because there is "very little that goes on in households to teach the children about budgeting", the specialist remarked.

Recent research from Lloyds TSB found 80 per cent of young adults in the UK ask their parents for financial support, compared with 61 per cent in the 1980s.

Mothers and fathers are told their offspring are struggling with money and occasionally say "we'll pay it off for you", Ms Goodwin declared.

"People aren't learning to live within their means," the expert stated, arguing the rising number of struggling young people is not simply because things are more expensive than they used to be.ADNFCR-2776-ID-801401516-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide