Lesson 8: Studying - does it pay off?

When Anna decided to go to university in Manchester, her parents began to look for a loan. They knew that they would need to fork out quite a bit of money to stop her from sinking into serious debt. They would have to pay her tuition fees of L3,000 a year, pay another L3,000 a year in

Lesson 19: Spendaholics

Spend, spend, spend! Shop until you drop! No money in the bank? Don't worry, buy now, pay later! Use the plastic, your flexible friend. Official figures reveal that consumer debt in Britain has reached 1 trillion. The generation of 'spendaholics' is sacrificing savings, mortgages and pensions

Credit without the crunch

For some, the credit crisis now has much less of a crunch. A man pawned off $15,000 gold and diamond dentures, writes David Byers in the Times. Amid soaring debt and house repossessions, US pawn shops have reported a wave of people handing over their gold and diamond dentures. The above pair

Goodbye city life

Shah, who was employed by Bear Stearns in London before the American investment bank collapsed. He had been trading collateralised debt obligations, the notorious mortgage-backed financial instruments blamed for much of the seizing up of the banking system. Although he was offered a job with JP

Lesson 20: Downshifting

disposable income, yet we're further in debt than ever before. We suffer from stress, depression and obesity as we wrestle with the ills of overconsumption and the endless disappointments of consumer life What's going on? Is the western world is in the grip of 'affluenza', a consumption binge that is eating

The Gap Year - a must for any self-respecting student

' week, writes Rosemary Bennett in the Times. Despite tuition fees and student debt, almost a third, or 130,000 sixth-formers, set out from the UK each year on a gap-year adventure before heading off to university, according to Mintel, the market analyst. Few who take a year out ever regret it and most

Useless little ones

hours in recreation, devouring cash and drastically reducing the family's standard of living. Later, burdened by mortgages and student debt, they are more likely to be relying on their aged parents for even more hand-outs than offering to finance their retirement. And so, we are presented with a