September 15 – Young people and financial services – weekly round-up

Daily Telegraph; Andrew Oxlade; 13 Sept

Not only are schools going to be obliged to teach ‘money skills’ as part of the national curriculum, they will also have to teach children about state spending.

Daily Mail; Ben Spencer; 9 Sept
A new report by Demos finds that Generation Y are three times more likely to support payments to the elderly than to the unemployed. The report also reveals that Tory support among young people has more than doubled since David \Cameron took over the party. Click here to view the report. 
Myfinances.co.uk; 10 Sept
New figures from short term loan company, www.Peachy.co.uk, has found that over two thirds of people are unaware of interest rates they are paying on their credit cards, overdraft and loans. The survey of 2,000 adults living in the UK also found that people aged 18 to 35 proved to be the age group who struggle most with their finances, with two thirds running out of cash before the end of the month – leaving no money for savings.
The Gazette; 8 Sept
A look at the grim prospects for young college graduates, many of whom have struggled to find gainful employment since graduating, causing them to put off key life events, such as moving into their own place, and even getting married.
Daily Telegraph; 12 Sept; Jessica Winch
Children will be taught how to manage their money in schools for the first time in England, after financial education was included in the final version of the national curriculum. The detail was published last night by the Department for Education and includes financial education in mathematics and citizenship education for secondary school pupils.
6.  Poor? You don’t have to stay that way

The Hays Daily News; 9 Sept

A review of Dennis Kimbro’s new book, “The Wealth Choice: Success Secrets of Black Millionaires”. Kimbro, a business professor at Clark Atlanta University, conducted extensive face-to-face interviews, took surveys and had other interactions with nearly 1,000 of America’s black financial elite, many of whom are multimillionaires, to discover the secret of their success.
Money Talks News; 13 Sept; Angela Colley
There are still plenty of misconceptions about secured cards. In the following video, Money Talks News founder Stacy Johnson dispels some of the myths.
World Finance; 13 September
A look at the developing banking sector in Sub-Saharan Africa, with some analysis of the younger market segment, and its use of debit cards.
Iol Lifestyle; 11 Sept; Sam Dunn
According to this article, children should be encouraged to start saving and learning about money as soon as possible.
Science World Report; Kathryn Lees; 13 Sept
According to researchers from the University of Copenhagen and Aalborg University, students are likely to choose courses similar to the ones their parents have chosen.  Those who choose to study medicine, architecture, economy and sociology often come from homes where their parents have completed higher education. Yet those studying business and pharmacy appeal more to those coming from a working class background.

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