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Concern over youth’s debt, THE NEW AGE

Concern over youth's debt, THE NEW AGE

THERE is growing concern about the large number of young people who are in debt in the province. The issue was raised at a summit to empower young people to manage their finances and start their own businesses at Empangeni on Tuesday. More than 50 0 students attended the summit organised by the KZN Financial Literacy Association, which was held in response to the over-indebtness of many young people. The provincial treasury's Muzi Kubheka said it was sad to find that students were being blacklisted before they even started working. “Being blacklisted means you'll struggle to get credit or a loan, even for something important like your studies, a house or a car,” he said. Kubheka warned the students of poor spending habits that could impact on their careers and job prospects. “Financial institutions and the government will not recruit you in a position that requires trust, honesty and entails handling of cash or finances if you don't have a clean credit report,” he said.


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