Young people 'have money worries'

Those seeking the best loan interest rates have been told that two-thirds of young people are worried about money.

Research by financial education charity pfeg Personal Finance Education Group, found that 62 per cent of 12 to 16 year olds are worried they will be short of money in the future, while 58 per cent of under 12s said the same.

Furthermore, almost a third of the young people surveyed are concerned about facing debts when they get older.

"It is essential that young people have financial education to equip them to able to deal with the complex financial world we live in," Justin Tomlinson, MP for North Swindon and chair of the All Party Parliamentary Group on Financial Education for Young People told those seeking out the best loan rates.

Meanwhile, the Nationwide has cut its loan rates to once more offer the lowest personal loan rates in the UK.

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2011-06-27 13:41:52 © Moneyextra.com