- 26
- Mar
Making financial advice accessible to children could be vital in solving Scotland’s debt management problems, it has been suggested.
Writing for the Scotsman, John Slater, executive chairman of brand consultancy company Tsuko, claimed that financial providers should look to align themselves with "relevant youth brands so that it is possible to impart good advice and ensure that it is being absorbed".
He suggested: "What if financial advice was linked into iTunes, or money choices and related scenarios were brought into interactive games?"
Mr Slater also claimed that to provide advice on areas such as personal loan borrowing, financial providers must understand that "generation-i speaks in a different language and if we are to break down barriers we have to communicate in a manner that they understand".
His comments follow a study by PFK which reported an increase in the number of people with debt management problems within the principality.
The survey revealed that in the four weeks leading up to March 9th, some 1,305 consumers filed for insolvency as they struggled with to make payments on debt consolidation loans and other products
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