UK Graduates Looking Short-Term At Their Long-Term Financial Responsibilities
January 31, 2007
With almost two thirds of university entrants from England and Wales who applied for maintenance grants for this year being unsuccessful, and the average graduate owing £13,501 when they leave, according to Barclays, combined with a survey by High Fliers Research showing that only 21% of students were confident of managing to enter a graduate-level job this year, it is not surprising that there is a feeling of gloom hanging over many UK university entrants.
According to a survey of students from 30 institutions; 63% believed there are not enough graduate jobs for everyone leaving university this year, with a fifth stating that they felt that there were only limited jobs available.
Jeremy Law, the head of student and graduate banking at Barclays said, “If this trend continues, students starting a three-year course this September could be graduating with debts of almost £20,000?graduates will find themselves with debts for years to come which may affect their ability to buy homes and invest in pensions?prince or pauper, these levels of debt may act as a deterrent to some people considering going to university.”
There are sources of help advice available to prevent student’s finances snowballing out of control, with important financial institutions such as Moneynet and other online comparison web sites providing guides to help students with their money, and Barclays Bank recently encouraging students to;
"Consolidate their borrowing and pay off the debts with the highest interest rates first by making use of the cheapest borrowing options, for example, interest free graduate overdrafts or graduate loans?where possible graduates should keep a tight reign on their finances to help set them up financially for the future.”
With increases in general levels of graduate debt, negativity surrounding job prospects, and the government concerned with meeting its 2010 target of getting 50% of the under-30s into university, you might expect trepidation over long-term debt to be entering into the psychology of both students and government alike, however this does not, overall, appear to be happening. The government is determined to continue with its plans, and students are still racking up huge student loans and personal debts by focusing on everyday financial pressures, rather than their future.
While worries about money add to their levels of depression, anxiety and stress, university students in Bath declared that it was the short-term lack of cash for paying bills and covering everyday expenses that caused them the greatest concerns.
Students interviewed By Dr Adrian Scott of the University of Bath indicated that, “They think there’s nothing they can do about the debts, so there’s no point worrying”.
A report, conducted for Liverpool Victoria has suggested that in 18 years time when today’s ‘Child Trust Fund Generation’ go to college, English student debts will average approximately £43,825 which would be about 83% of their first years graduate salary. A worrying figure, but one which does not, according to Liverpool Victoria; "take into account that there is a big push by some universities to get the cap on top-up fees lifted and this would have a massive effect on these figures - probably doubling or tripling the debt.”
Dr Scott also found that students were becoming more accustomed to the idea that they would have substantial levels of borrowing, and their perceptions of what was considered an acceptable level of debt was changing. Cognitive strategies rather than financial adjustments were occurring to justify long term debt instead of dealing with it head on. An annual Unite/Mori survey analysing student attitudes, published earlier this year, showed that students were becoming increasingly acclimatised to the idea that, as a student, they would have to acquire certain amounts of debt, which would need to be paid back after graduation. Possibly a major shift in attitudes towards debt will occur should the cap be lifted on top-up fees, but presently students are not being put off going to university by the idea of starting their working life shackled with debt.
Overall personal debt in the UK is increasing at a rate of £1m every four minutes however the rate of change in the levels of student debt are accelerating far faster than the already worrying UK average (five-fold increase in total graduate debt over the last decade). If no change is made to the graduate jobs market or to student funding, and future graduates are to avoid running the risk of being branded an adverse credit risk at the start of their earning career, then they need to take the financial bull by the horns at an early stage, and take long-term financial planning seriously whilst at college, to reduce their arrears on leaving rather than looking to the never-never.
Resources: Moneynet University of Bath
Richard lives in Edinburgh, occasionally writing for the personal finance blog Cashzilla, and staring out the office window when he should be working.
Parenting Your Teenager: Ask Questions
January 31, 2007
Many parents seem to be more than a little confused about what they have a right to know about their teens.
The question I often get goes something like this:
“We want to know where our 16-year-old son is going to be, and who he is with. He makes it sound as if we are the most out-of-it parents, and that it is abusively embarrassing to him that we want to know what he and his friends are doing. Are we being fair?”
You have the right, need and obligation to know all these things, and more. I believe that every parent of a teen has the right to know and the crucial need to know several pieces of information that I call the W’s.
These crucial W’s are:
1) Who they are spending time with. One of the most powerful forces in the life of a teen is influence: of parents, media, culture and especially friends.
With friends, it’s not the question of can your children be influenced, but how they will be influenced. We have come to use the cliche of peer pressure, but this is really about influence.
One of the clearest warning signs of problems is when a teen has two sets of friends _ one that the parents know, and one the parents have never seen and your kid does not want you to see.
Your teen does not want you to see them for a reason, and it’s not a good one. A good rule of thumb is that your teen is not allowed to go anywhere with someone you have not at least met. Another simple but little-used strategy is to know the parents of your teen’s friends. Also, if you can make your home the hub of his or her circle of friends, where lots of activity takes place or at least begins, you have a good thing going.
2) What they are going to be doing. “But Mom, (stretched into a two or three syllable word) we don’t know what we are going to be doing!” Possible answers _ “Well, you’ll need to know the answer, and then I’ll need to know the answer before you can go” or “That’s fine for now, when you decide you must let me know.”
Another one you will hear is “But everyone else gets to do it!” This is one the Top 10 things never to believe. It’s just not true. Everyone else does not get to do it. And even if they did, you as a parent still have the right to say no.
3) Where they are going. The what and the where go together, and the same rules apply. Watch out for the scam where Billy tells his parents that he is going to Bobby’s house, and Bobby tells his parents he is going to Billy’s house. This one can be easily handled and checked on when you know the parents of your teen’s friends.
4) When will they be back. This brings up the pleasant issue of curfew. The dilemma: Parents want kids home at a certain time, kids want to stay out later.
I’ve never encountered the situation where a kid wanted his curfew to be earlier. Solution: The parents pick a curfew time. Notice I said the parents and not the parents and kids. This one begins with the parents, and then it’s up to the kids to earn more.
While we are at it, let’s define late. Late is late, and 10 p.m. is 10 p.m., unless there is something major that is unavoidable. If you consistently make 10:10 acceptable and not late, you send the message that the rules don’t really count, and you foster more and more lateness, not to mention giving up your power as a parent.
If the curfew is kept for three months, an additional 15 minutes is added. If they are late during the three months, the three-month earning period starts over from that point.
This model represents the real world where privileges are not just given but earned based on performance.
I’ve seen more than one family make this a very smooth process by requiring that a small form be filled out, answering all the W’s before a request to go out is even considered.
Now, a word of warning:
Your teens will not like this. That’s OK because that is not the point. The point is to teach responsibility and other things about the real world, and make this labor-intensive job of parenting a teen just a little less stressful.
While requiring your teens to obey the W’s may not be easy, it sure can help you to avoid some other loathsome W’s, such as: Waiting up until the Wee hours of the morning, Wondering and Worrying.
Visit ParentingYourTeenager.com for tips and tools for thriving during the teen years. You can also subscribe to our f*r*e*e 5 day e-program on The Top 5 Things to Never Say to Your Teenager, from parenting coach and expert Jeff Herring.
Pretend Interest and Apathy… What To Do About Them!
January 31, 2007
According to Merriam-Webster’s dictionary “apathy is defined as the following: lack of emotion; lack of interest; indifference”.
Wow, that’s pretty depressing. However, look around you. Don’t many of you work with people with this attitude. I don’t, because I run my own business. However, I can remember when I worked for others and how many of the people I worked with fit this description. At that time, I couldn’t understand how they could be that way. While I left corporate America, for my own separate set of reasons, apathy was certainly not one of them.
Unfortunately in the business that Chuck and I run we also see too much apathy. Of course, we get people who show what I like to call “pretend interest”. They figure if they pretend an interest in something else, maybe no one will notice their apathetic behavior.
The individuals who pretend an interest in creative real estate will call us, and want us to guarantee that they will succeed (without any effort I might add). NOTE: NO ONE CAN GUARANTEE YOUR SUCCESS BUT YOU. Or they will want to know how quick they can make a million dollars (again, without doing any work). Or, how do I know it will work for me, in my area. As far as their area, creative real estate works in most areas. However, will it work for them, that I can’t answer. They have to decide if they are going to work at it or not, they have to put the effort out. I put effort out every day and get rewarded for it. I realize, however, “if there is no effort, there is no reward”. For these individuals, because they are so apathetic about everything, of course it won’t work. They don’t want to work. They are too indifferent.
If you find yourself with the above characteristics, and want to make a change do the following. Find something you have an interest in, that you are not indifferent to, and watch your emotions soar. I am not telling you to quit your job, unless you really want to or need to. Look at your job in a different light or look for something you would like to do, and research it. Find out how you can start it in your spare time, or part time, and build it up so you can get out of where you are. Once you do that you’ll have a new purpose for yourself. Put all of yourself into it, heart and soul.
Don’t let apathy make you say, “I’m not good at anything”, “I don’t know what I want to do”, etc. These kind of statements are just perpetuating your apathetic behavior.
If it is not your job that is making you apathetic, take a good hard look at yourself, and be honest so you can find out what it is and do something about it. Sometimes it is as easy as finding a new hobby, or doing something special for yourself - dinner, a movie, walking, whatever, will make an enormous difference. If that doesn’t help, go talk to someone on a professional level, but do something to remove the apathetic behavior, and I don’t mean by using “pretend interest”.
As Nike is so fond of saying, “Just Do It!”
Copyright 2003 DeFiore Enterprises
About The Author
Interested in having your own successful, home based creative real estate investing business? Chuck and Sue have been helping folks start successful home based businesses for over 17 years, and we can help you too! To see how, visit http://www.homebusinesssolutions.com for the latest FREE tips and tricks, educational products and coaching in creative real estate investing and home based businesses. No time to visit the site? Subscribe to our FREE “how to” Home Business Solutions Digest, it’s like having your own personal coach: mailto:subscribeHBS@homebusinesssolutions.com
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Wind Chimes Soothe The Soul
January 31, 2007
They can be pretty to look at and soothing to hear, but did you know that that wind chimes also have healing effects? Just listening to the tones of the chimes can help calm your mind and release stress. Calming your mind, the tones of the chimes help to release all that stored up stress. This soothing effect helps open our spiritual awareness and has been used by many cultures for centuries.
As a Feng Shui cure, your wind chimes could help you gain luck and prosper. Metal wind chimes are recommended for the North, West and Northwest, Wood for the East, South and Southeast. For good luck, it is recommended to use chimes with 4, 6, 7, 8 or 18 rods. If it’s bad energy to want to keep away, then go for a chime with 5 rods. For outside the house, bamboo chimes are best.
You can hang wind chimes anywhere and on any type of hook - hooks sold for bird feeders work pretty good. Just make sure whatever hook you choose can support the weight of your chime. Make sure you do not hang it too close to any structure as you want it to be free to flow in the wind. Or you can use a fancy hanger to add more interest. When hanging your chime, remember to pick a spot that is protected from strong gusts of wind to avoid damage to your chime.
Some Ways To Enjoy Your Wind Chime:
Find out more about the soothing effects of wind chimes at Wonderful Wind Chimes
Stamps Collecting has Never Been So Easy
January 31, 2007
Stamps Collecting has Never Been So Easy
by: Bob Benson
Collecting stamps has been a popular pastime ever since there were stamps to collect. Collecting stamps has never been easier and collecting isn’t just for the gray-haired gentleman who spends his days poring over his stamps.
When collecting stamps, it’s important to have at least some definition of what you’re hoping to achieve. Some people collect only historical stamps. That is, they’re only looking for the old, rare stamps that are highly sought and prized by collectors. This is a noble goal, but probably not much fun for those without the finances to make those rare purchases. If you’re simply looking for a great hobby, start searching for unusual stamps or collect stamps postmarked in other states and/or countries.
Take a look at some ideas that can help you get your stamp collection off to a good start, or give your current collection a real boost.
Don’t keep your stamp collection a secret. While Great-Aunt Margie isn’t likely to want to sit down and hear the history of every stamp in your collection, letting her know that you’re a stamp collector could be the best move you’ve ever made. She may have a stash of letters in her attic from that special beau who wrote to her from Europe during World War I! Or she may have the letters her grandmother sent back home during her trek across the country in a covered wagon. And she just may remember to mail you a postcard from her next trip to a foreign country. The most unlikely people may be the ones to help you expand your collection, so let family and friends know that you’re collecting stamps.
The Internet can be a very useful tool for those collecting stamps. All you really need to do is find an online forum for stamp collecting and start trading stamps with others creating collections similar to yours. In most cases, you’ll be able to send a letter and the recipient will send one back to you - instantly adding stamps to your collection. Because this is a relatively inexpensive request, you may also get people to send you stamps who aren’t looking for a return letter.
Another idea for collecting stamps that works well for youngsters is to simply be looking for those unusual, strange or “cool” stamps. Your post office will likely have a good selection and you can let your child help you choose each time you need a new book of stamps. Take one off to add to the collection and see how many great stamps are available. Don’t forget that the postal service will also let you create your own stamps with photos you upload to their website!
Collecting stamps can be a great way to connect with your child, and can create a hobby that will span a lifetime.
contact@loan-source.co.uk
Balanced Diet: Know More on Healthy and Nutritional Balanced Diet!
January 31, 2007
In this fast paced world, good nutrition may sound very simple but it is indeed really difficult to practice it. We eat too many processed foods or we tend to miss some meals. Some of us even smoke or drink alcohol. We also choose food on the basis of the taste. This not only make us overeat but also we ignore rich nutrient food items which we feel have bad taste. Foods lose substantial nutritional value during storage. There are many such factors which rob us of the nutrients we need for the maintenance of general well being.
We all talk of balanced diet, but how many of us really know the actual meaning of the balanced diet? Balanced Diet is a diet which has adequate amount of all nutrients required for healthy growth and activity. Sounds simple!
We have divided food into five groups on the basis of their nutrient content which are the most integral part of balanced diet.
Group One :
Wheat, Rice and Cereals. They are major sources of starch, carbohydrates, B-Vitamins and fibre.
Recommended Servings: 6-8 servings daily.
Group Two:
Dairy products. They are major sources of calcium , protein and vitamins (A,B2, B6, B12 and D).
Recommended Servings: 2-4 daily.
Group Three:
Fruits and Vegetables. They are major sources of vitamins, minerals, carbohydrates and fibre.
Recommended Servings : 4-6 daily.
Group Four:
Meat, Fish, Poultry and Pulses. They are major sources od protein, Vitamin B12 , zinc and iron.
Recommended Servings: 2-3 daily
Group Five:
Fats, Oils and Sugar. They are major source of energy in our body.
Recommended Servings: Should be barely adequate.
Recommended servings of each group daily comprises a balanced. Now does it still look simple? To make it worse, our hectic life schedules make it more difficult for us to achieve this goal. Hence it has become a challenge now. We cant ignore this vital part of our life too. So we should better gear up for it!
Random Tip: Eating fruits increases your immunity against the development of age-related maculopathy and eye diseases.
About the Author: Jasdeep Singh
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