Archive for the ‘Personal Loans News’ Category

Second Hand Car Sales on the Rise

Thursday, February 26th, 2009

According to a survey published by AA Personal Loans many UK customers are taking loans to purchase second hand cars rather than opting for brand new ones in order to save money. The survey results show that almost 62% individuals are more likely to use their loans for buying a second-hand car than it was in March 2008. (more…)

Teenagers Are Better Financial Planners Than Their Parents

Friday, September 5th, 2008

Teenagers in the UK have not only become matured but also responsible towards themselves and their education. Children as young as 11 years have started saving towards higher education as they have been witness to older members reeling under the load of university debts. This year about 42 per cent of undergraduates plan to be employed in a part time vocation to meet the increasing costs of higher education as almost 78 per cent parents feel that credit crunch will make them difficult to bear the expenses of higher education.

Education consultants are advising parents that even though the Government is taking steps to Finance higher education for students by creating student finance packages, one way to save yourself against financial nightmares is to start saving now. A research shows that nowadays it is the children who take an active part in financial planning for higher education than their parents. Almost third of children between the ages 11 and 18 have started saving from now to fund their own education

Teenagers of today are far more aware of the expenses for higher education and are taking necessary steps to avoid getting into debts. However, the cost is a whopping GB 40,400 which is huge for teenagers to fund. At present almost four times more youngsters are taking their education seriously and opting for higher education than it was 30 years ago. It has been seen that an average graduate completes his education with a debt of GBP 17,500. Therefore educationists are asking parents to save for higher education for their wards to fulfil their dreams. A report also states that younger siblings are more cautious and saving for their future than their older ones. However, younger men are more likely to save about 32 per cent than their female counterparts (28 per cent).