The problem with the current educational system is that you are put into colossal debt without first being educated on how to manage it.
Starting off your professional life with close to £27k in debt and zero knowledge on how to strategise the repayment is setting up the youth for failure with a financial handicap.
Even after you repay it, you are crushed by the skyrocketing prices in cost of living and real-estate.
Unless you have more than a decent understanding of how banks work, how to use debt to your advantage and manage your mortgages, you are destined to live a stressed out life.
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I am now going to university. A fresh new start, yet I feel more lost in life than ever. This article explains how a few tweaks in the education system can make us better prepared individuals in the long run.
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Is debt acquired to purchase something that is going to benefit you financially in the future, usually with low interest. That means it's either going to generate income or allow you to make more money in the future.
Examples of good debt:
You don't have to be wealthy to achieve financial well-being. Research shows that beyond a modest point, more money has a limited effect on happiness.
Some of us are stressed. Others are overworked. Perhaps you’re struggling with the new responsibilities of parenthood. Or the chaos of a new venture. Or are you already successful and grappling with the duties of power or influence? Wrestling with an addiction? Deeply in love? Or moving from one ...
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