Personal Loans And The Youth Brigade

Personal Loans And the​ Youth Brigade
These days,​ loans are a​ way of​ life .​
People from every class and background have gained access to​ one kind of​ loan or​ another .​
Moreover,​ it​ is​ not just the​ older members of​ society who can avail of​ loans these days .​
Nowadays,​ the​ younger generation can also try their luck .​
Thus,​ rising numbers of​ teenaged people and young adults are resorting to​ loans to​ see to​ their financial needs .​
The ease with which loans can be acquired has led to​ many young adults becoming indebted even before they are able to​ get a​ steady job .​
This certainly is​ becoming a​ cause for concern.
The problem is​ that young people rarely have enough financial education to​ ensure that they make good decisions with regard to​ their money .​
Not enough financial education is​ given to​ young people who might be ready to​ secure loans .​
Thus,​ they face difficulties in​ paying off the​ loan as​ well as​ settle down to​ a​ new lifestyle once they start working .​
Car loans,​ education loans,​ and other sundry debts that young people bear the​ burden of​ can result in​ them struggling to​ pay off regular bills .​
The debts that were incurred during the​ days in​ college become major debts that find them struggling to​ make ends meet later on.
Making investments later on​ also becomes difficult because of​ this .​
One may question whether there is​ a​ need to​ saddle young people with debt burdens while they are still young .​
But this is​ the​ way the​ world is​ progressing .​
And it​ does not help that college education is​ usually rather costly .​
Of course,​ student loans aside,​ young people end up running up rather large credit card debts as​ well .​
This too adds to​ their sense of​ indebtedness later on.
The point is​ not to​ keep young people away from personal loans .​
Rather,​ much greater emphasis should be placed on​ educating them to​ make much better use of​ their money .​
Financial education is​ the​ only solution to​ creating individuals that shall learn to​ put their money to​ good use .​
This would lead to​ greater investments by young people .​
If the​ investments are sound,​ the​ returns from them may eventually accrue to​ a​ sufficient amount to​ pay off a​ large share of​ the​ burden of​ debt.
We commonly associate young people with financial irresponsibility .​
However,​ it​ is​ unfair to​ saddle only young adults with the​ tag of​ being financially naïve .​
Instead,​ there should be some attempt to​ help this age group become wiser when it​ comes to​ their incomes.
Personal Loans And The Youth Brigade Personal Loans And The Youth Brigade Reviewed by Henda Yesti on August 11, 2018 Rating: 5

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