Financial Education UK: Learn About Debt & Avoid Problems
Debt education should never be left until you encounter an issue. It isn’t always about learning to get yourself out of a situation; it’s about learning never to be in the situation in the first place.
From the moment you have your bank account, you are open to a world of credit and debt. The more you know before you enter this world, the less likely you will find yourself in financial difficulty.
Why Learn About Debt Before You Need To?
Understanding Credit: More Than Just Credit Cards
If you’re a young adult entering this world thinking you will never have a credit card or never use credit full stop. You will find it's not so easy to achieve this. You may already be using a credit facility without even knowing it. For example, if you have a phone contract, you’re using a credit facility and paying it off monthly. If you have an overdraft, you have a loan that you can access when needed.
Building a Credit History: Why It Matters
If you want to buy a home but do not have the cash to pay it in full, you’ll need a mortgage. You’ll need some history of using credit to get a mortgage.
Resources for Financial Education
Never Stop Learning: Visit Our Financial Education Section
We're sure you’re starting to understand our point. We seriously encourage you to visit and keep visiting our Financial Education section to make sure you stay away from serious financial issues and see how you can solve any problems surrounding debt that you might face
