Sept 8: Modern Young Finance weekly round-up

Daily Telegraph; 2 September, Rachel Bridge
Sylvia Tidy Harris, founder of the Speakers Agency, says that young people are putting themselves at risk of unemployment because of their lack of manners and poor attitude. Small and medium businesses are increasingly opting not to hire young people because they lack the right attributes, and she calls for schools to take urgent action to prepare young people better for the workplace.
Neoskosmos; 5 September
Young adults have higher credit card debt, relative to annual income, than any other group, according to research group RFi. A study found that people aged 18 to 24 have card debt equivalent to 11.5 per cent of their income. For people aged 25 to 34 the proportion of credit card debt to income is 10.7 per cent.
The Scotsman; 8 September
The new university year gets underway amid concerns that students are increasingly turning to payday lenders to finance soaring rents and rising living costs in the bigger cities of Scotland. New research by Lloyds TSB has found that around one fifth of students don’t have enough money to get through the month and a further 48% do not feel fully in control of their finances.
Russia beyond the headlines; 5 September, Anastasia Markitan
At a session of the G20 on Sept. 5, Russian Finance Minister Anton Siluanov announced that Russia will implement courses on financial education in the school curriculum as a part of a national strategy to increase financial literacy.
The Border Mail; 9 September, Chris Tolhurst
This article looks at The MoneySmart teaching program which is being trialled in 93 schools across Australia. Ballarat High is one of 19 Victorian schools taking part, and the program is expected to be introduced to many other schools next year. This, the piece suggests, is a sign that the study of financial literacy in schools is being given a much higher priority.
BusinessTech; 8 September
This piece offers ten common sense tips to start investing, ranging from starting early, investing regularly, avoiding borrowing to invest, diversifying and buying and holding for the long term. According to the article, the average age of investors using the FNB Share Investor platform is between 24 and 35, showing that young people are taking the initiative to invest in shares.
NewJerseynewsroom; 22 August, Rebecca Sheehan
New research from credit score provider FICO has found that many young adults are shying away from credit cards, despite the consequences this can have for those looking to establish a credit score . Based on the research, 16 percent of consumers ages 18 to 29 do not have one single credit card as of the end of 2012, which is up from eight percent back in 2007. The reasoning behind
all of this is that many of these young consumers have watched their parents get hit hard by the recession ‑ so they are reluctant to take on credit card debt.
The Actuary; 4 September
Research by Baring Asset Management has found that among the whole working population, people expected 52% of their retirement income to come from pensions, but this fell to 40% among those now aged between 25 and 44. Those in even younger age groups seemed less convinced by pensions, with only 35% of the 18–24 bracket expecting to finance most of retirement from a pension.

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