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Too many want to bury their heads in
sand and wait for a lottery win to make it all better. With over one trillion pounds of personal debt in UK, students need to realise that the, "it could be you!" they pray for, is actually an "it is you … in debt" … with trapped wind more likely than wind-fall.
Part of problem is hopeful expectation (alias denial), part is a fear of controlling your own personal finances (alias apathy), and part is a lack of knowledge (alias ignorance). The first one is difficult, and needs to be overcome by individual. The other two however can both be overcome by looking for help. Sources of information need to be made available, actively promoted and sought out by consumers.
It’s not like information isn’t there… there are plenty of financial product comparison sites loaded with information (and pictures): http://www.moneynet.co.uk/ for a start, or http://www.moneysavingexpert.com. The Financial Services Authority has its own finance help information for consumers http://www.fsa.gov.uk/consumer/index.html.
As saying goes, "Seek and you shall find". It may be a hard lesson, but it is one that we must all currently embrace.
Richard works in Edinburgh for a media company, occasionally writing for the personal finance blog Cashzilla ( http://cashzilla.blogspot.com/ ), and drinking too much coffee.
