Egg Money urges graduates to adopt C.A.S.H.

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Egg Money urges graduates to adopt C.A.S.H.

Almost half of graduates believe that college has fundamentally changed their attitude to debt and four out of ten said they were determined not to get into serious debt again.

The study by internet bank Egg advises Noughties’ university graduates to adopt Credit Aware Spending Habits (C.A.S.H) in order to become credit conscious consumers.

Problems cited by students included difficulty with budgeting and understanding how much spare cash they had to spend.

Almost three-quarters (73 per cent) of those surveyed claimed that the majority of their debt is "unavoidable" because of university.

Almost half of the students quizzed (48 per cent) said they would be reluctant to spend what is not theirs to spend after they graduate and almost three-quarters claimed that once in full time employment they will only spend what they can afford.

Mark Nancarrow, Egg chief financial officer, said: "Whilst still intending to use credit in the future it appears that the graduate of the Noughties intends to adopt a responsible attitude towards credit, rejecting the ‘have it now’ attitude associated with the Eighties and Nineties."

As well, the recent launch of products such as Egg Money making it easier for customers to be aware of their financial situation.

Egg Money separates a person’s spending money from predictable bills, making it harder to overspend on the monthly limit.

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