Problems relating to the issue of
credit card debt may affect some young people, due to a lack of knowledge about such products, it is suggested.
Young people might face greater financial risks because they do not have enough financial education, a
moneysupermarket.com spokesperson feels.
He said: "Financial education has been on the agenda so many times but we haven't really got a proper financial education in place here in the UK."
"That could be targeted more," the expert added.
However, when it comes to shopping around for products like insurance, the spokesperson believes that younger consumers might be more savvy than other generations.
Value for money is something that many of them are keen to look out for, he concluded.
Those who are struggling with
credit card debt at the present time may be able to take advantage of the recently launched Consumer Financial Education Body.
Posted by Tom Burroughs.
