Kippers or Red Herrings?

Recent news has made much of parents stretching their finances to cover costs for their twenty and thirty something children. Debts and high property prices have forced many offspring to return home, tail between legs, under the attractive new marketing term of "kippers": kids in parents' pockets eroding retirement savings.

Many graduates have developed significant debts from university and have accumulated further debt in the competitive graduate market. Student life provides an incubated protection from the reality of financial concerns and fresher fairs become increasingly populated by banks, mobile phone companies and other brands wishing to tap into the students' borrowed finances.

It is true that many young people have got themselves into very uncomfortable financial positions because of careless spending. The ethics of student finance are somewhat dubious with many financial products branded "student", not necessarily offering the best deal. Most shops, bars, cafés and restaurants on university campuses are fully commercial enterprises designed to make profit, without wanting to fit around a student's pocket. Tuition fees, whilst significant, are not the biggest problem for students.

Most students run up debts because of inadequate life skills. They're not used to doing their own washing, they don't sew, some can't cook and most have never been in charge of their own finances prior to university. If it's broke, just buy a new one. One male student reported preferring to buy take-away food, rather than cook his own food, also often buying new shirts to save washing and ironing old ones. An American exchange student, who had never been taught to do her own cooking, used some of her $90,000 loan to live on take-ways, convenience meals and restaurant food whilst studying in London.

If 16-18 year olds were forced to take a gap year before university and undertake a period of community work and life skills training, it is unlikely that they would graduate with the same level of debt. Just like binge drinking, smoking in public places and increasing levels of obesity, debt accumulation is part of a distorted value system. The kids deserve some of the blame, though the government also needs to take an interest. There is no reason, even with tuition fees, why even the poorest students cannot go to university, but expectations of a suitable standard of living have to be lowered, with a genuine concern for a suitable standard of education at the heart of the matter.

To get the best deal on financial products: http://www.moneynet.co.uk/

Information on student finance: http://www.creditaction.org.uk/documents/StudentsSample.pdf

Citizens Advice Bureau http://www.adviceguide.org.uk/

Rachel loves garlic. She is very good at raising one eyebrow and giving disapproving looks, but she is not a witch. Rachel writes for the personal finance blog Cashzilla:

---

Getting The Best Home Equity Loan

Owing to the popularity of home equity loans, there are... Read More

Bad Credit Home Loans

There was a time that seems like decades ago when... Read More

How to Find the Lowest Rate Possible!

The quest is on! You're in the market for a... Read More

Home Loans and Mortgages ? Beware of Deed Theft Scam

The average home in the United States has a value... Read More

Buy a Home With a Government Grant? Avoid this Scam

If you watch enough late night television, you'll see advertisements... Read More

Remortgage To Release Equity By Improving Interest Rate

You have been paying on your mortgage for quite sometime... Read More

Low Income Home Loans - FHA and VA Mortgage Loans Can Help You Get Approved

If you have low income and are looking to get... Read More

Mortgage Cycling May Be Your Best Bet For Equity Buildup and Investment Real Estate

Mortgage cycling is a system that relies on solid budgeting,... Read More

Non-conforming Home Loans vs Conforming Loans

The simple definition of a "non-conforming home loan" is: You... Read More

What is a Current Account Mortgage?

Current account mortgages are fairly new to the sector. They... Read More

Some Mortgage Loans are Available with Absolutely no Money Needed From You

Today, FHA will loan up to 97 percent of the... Read More

FHA Home Mortgage Purchase or Refinance Loan - Why You Might Consider Getting an FHA Loan

Most borrowers have heard of FHA home loans. They are... Read More

Apply For Home Mortgage Loan Online With Bad Credit - Things To Consider

So, you've found the perfect home. You've already decided where... Read More

Home Mortgage Loan Refinance ? Benefits To Refinancing Your House Online

Here are some of the benefits to doing your home... Read More

10 Things to Look for in a Home-Equity Line of Credit

If you are a homeowner, you've probably received offers to... Read More

How do I know what is the best Second Mortgage Home Loan for me?

The information in your credit history helps mortgage lenders decide... Read More

FHA Mortgage: Whats the Best Way to Show an Underwriter that Youre Ready to Buy a House?

Mortgage underwriters can be a suspicious bunch. If you have... Read More

Why Choose a Remortgage?

A remortgage can be used for the purpose of gaining... Read More

Student Home Purchase Plan

Tuition costs are climbing, housing costs are climbing, it seems... Read More

Getting a Home Improvement Loan: What Your Bank Needs

The popularity of stores like Home Depot and Lowe's show... Read More

Self Employed Mortgage Loans - A Survival Guide

When you're self employed you have numerous advantages. As you... Read More

A Guide to Finding the Cheapest Home Improvement Loan

To find the cheapest home improvement loan that you can,... Read More

First Time Buyers Fail To Shop Around

Almost two thirds of first time buyers accept the first... Read More

Rates May Be Rising: Mortgage And Refinancing Preparation Made Simple For You

Buying a home is probably the single largest investment most... Read More

To Refinance or not to Refinance -- Here is the Answer

I have written many articles on refinancing a fixed rate... Read More

How to Utilize Your Cash Investment in Your Home

Have you ever noticed how hard it can be to... Read More

Buying a Home With Bad Credit - Get Approved With a Recent Bankruptcy or Foreclosure

A few years ago, if you had a bankruptcy or... Read More

Subprime Mortgage Lenders - Helpful Tips When Getting a Subprime Mortgage Loan

If you have bad credit history, no down payment or... Read More

Mortgage Loan Most Bankers Wont Give May Be Exactly What You Need to Buy or Refinance Your Home

A few years ago, a loan officer who worked for... Read More

Home Loans and Mortgages ? Time to Consolidate Loans?

Home equity loans and lines of credit are useful tools... Read More

How to Get Your Home Mortgage Loan

If you are thinking of purchasing a new home soon... Read More

5 Steps to Getting on Top of your Mortgage

Getting on top of your mortgage so you can pay... Read More

Applying Online For A Home Loan Can Give You an Instant Approval

"Instant Approval For Home Loans" is a common refrain for... Read More