Online planning tools may help reduce future debt

Wed, 13 Jun 2012

The likelihood that a young person encounters trouble in the future could be reduced with the help of online planning tools.

Keith Churchouse, director of Chapters Financial Planning - an independent financial advisers organisation - has noted youngsters can now turn to the internet in a bid to better manage their cash flow.

Mr Churchouse explained the government and the Financial Services Authority are currently promoting the Money Advice Service, which enables users to take a closer look at the most important elements of their financial planning.

In addition, this tool can help young individuals learn the best ways they might and place money aside for a later date.

Initiatives such as this might therefore play a crucial role in reducing the future debt problems of today's youth, especially at a time of economic uncertainty when people are struggling to get their incomings and outgoings in order.

Mr Churchouse stated: "We may well find that the information which they can receive from the internet may well be helpful in moving them forward with that planning."
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