A New Update About Cars

[Water Consumption]

“Some of our 15- and 16-year-olds are even having to manage rent and mortgage issues because they are English-speakers and their parents aren’t.” Fatou, who is 17 and a pupil in Year 12, studying for a qualification in health and social care, is typical of many her age in being unfamiliar with the core concepts of personal finance. She admits, for example, to being uncomfortable with percentages and interest rates. But she knows one thing — in line with her Muslim heritage and sharia restrictions on interest-bearing debt, she is concerned about borrowing. “Getting into debt can ruin your life,” she says. “When my mum and dad came here from Gambia, they were very careful. Personally, I think it’s not good to take out you can check here a loan. What if you can’t pay it back? You get into poverty and it stresses you out.” Fatou says she has seen friends and acquaintances get into just that kind of fix thanks to preoccupations with how they look and what they wear, fuelled by social media: “A lot of people get so much in debt because they want to dress in designer stuff like they see on Instagram. Either that or they try to make quick money from doing something illegal.” Fatou’s savviness about spendthrift consumerism is striking but her antipathy to debt might have a downside too: without student loans, a university education is impossible in many countries these days. “Taking out a loan is one of the things that scares me about going to college — having to pay for accommodation and getting into debt,” she says. This is exactly the kind of concern that deters many poorer students from going to university.

https://www.ft.com/content/e25ce66e-b639-408b-b7ef-f524d664a30d