Financial advice service, Heracles Foundation Limited served up some free financial information and guidance to students at South West College (SWC) Dungannon through ‘Project FISH’ - which aims to help ensure that future generations are financially aware to stay credit worthy and to avoid the pitfalls of loans and mortgages.
‘Generation debt’ refers to the troubling amount of millennial debt, which supersedes any other generation in history. Connell McBride from Heracles Foundation Limited said:
“The increase in tailored marketing aimed at social media users, coupled with financial products such as store cards on offer, allow younger customers to build up significant debt at a high level of interest.
“Through Project FISH, we want to encourage young people to take stock – to consider their attitudes towards money and spending and also to give them some practical strategies to make positive changes to help fulfil their future aims and aspirations.”
Speaking about the College’s collaboration with Heracles Foundation Limited, Kate McCaul from SWC said:
“Many of our students will soon transition from education to the workforce, where the role of money will become more prevalent in their lives. Knowledge about how money affects their aims and aspirations for the future is vital to ensure they can manage money to build credit ratings ahead of major purchases."
Project FISH also hopes that increased financial awareness and responsibility among young people will also help alleviate anxiety and stress related to financial concerns.
Administration student, Kyara Moore has also recently completed a work placement with Heracles Foundation, she said:
“My work placement with the Foundation has been a real eye opener to the complications and struggles people face due to ill-informed and poor financial choices, some of which were made a long time ago but still affect them today. Project FISH provides really valuable help and information to anyone in financial difficulty.”
For further information, advice or support on managing personal financial issues, please contact Heracles Foundation Limited, 56 Scotch Street, Armagh or telephone 02837013132 or email contact@heraclesfoundation.com