August 28: Young people and financial services – weekly round-up

The Independent; Paul Gallagher; August 20
More coverage on the tragic news of 21 year old intern Moritz Erhard, but this time with a comment from careers advice group FinanceInterns, which condemns the City’s long-hours culture.
Times-Standard Business (Canada); Julie Vaissade-Elcock; August 25
This Canadian article takes a look at the steps young people should be taking in their quest to get on the housing ladder. These simple tips, such as making sure your credit rating is in good order, making payments on time, and ensuring you have a contingency fund for unforeseen problems and improvements, such as new flooring, can be easily adapted for young people in the UK.
The Independent; Liz Barclay; August 24
As auto-enrolment continues to be rolled out across UK businesses, this article looks at the positives and negatives of one of the biggest reforms to pensions in a generation, and also looks at some of young people’s basic rights surrounding it.
The New Zealand Herald; Diana Clement; August 23
This article gives some straightforward advice for those struggling with their personal cash-flow – the bottom line, however, is live within your means: stick to a budget and save wherever you can.

5. Pension planning: get an early start to pay for old age

The Mirror; Tricia Phillips; August 21

Retirement may seem a long way off for Generation Y, but planning for retirement from a young age will make life easier when they are old.

6. Blog: Financial Education has never been more important

Your Money; Kirstie Mackey; August 22

As it emerges that young people are entering into adult life with worrying gaps in their financial knowledge, Barclay’s Kirstie Mackey writes that financial education has never been more important.

Iona’s Young Money Blog; Iona Bain; August 20
A look at whether the pop phenomenons One Direction and Lady Gaga (amongst others) are financially exploiting their fans, as teenagers buy a never ending supply of pop merchandise, tickets and singles.
Family Investments; August 25
Family Investments, a children’s saving provider finds that students spent 10% less on basic living costs in 2012 compared to 2011, with monthly expenditure falling from £881 to £793. This is the first time in three years that spending has fallen and only the second time since 2004.  It  attributes the decrease in adjusted budgeting to reflect the increased pressure of higher tuition fees.             
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