Parents underestimating university costs by Finance News Bulletin

Published: 01/01/08

Moving financial records from one bank to another is "easy", according to the British Bankers' AssociationThe value of Christmas presents can "considerably" affect home contents insurance, warns NFU MutualAxa is launching My Budget Day on November 21st in an effort to encourage people to take manage of their financesParents are underestimating the costs involved in supporting their offspring through their institution of higher education years, a study has found

As a result, not enough have built up the level of investments required to see them comfortably through those existence, independent financial advisers Best Advice Financial Planning have foundA spokesman for the solid said it was rare to find situations where families had implemented a usual investments plan to finance university educationThe company found that there is instead a tendency to divert any immediately available extra capital to the costs of higher education, although this move toward was more difficult for those lower down the economic steps"Parents are either just spending less on other things while their child is at university or they are eating into their savings, which clearly isn't good," the spokesman explained

Parents in a tight financial press might be interested to know that the Council of Mortgage Lenders says a homeowner loan can be a "sensible" method of dealing with debt problemsThe body notes that consumers often use such loans as a mechanism to pay back more expensive borrowing - such as credit cards -

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