Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
S&P Stock Market Trend Forecast to Dec 2024 - 16th Apr 24
No Deposit Bonuses: Boost Your Finances - 16th Apr 24
Global Warming ClImate Change Mega Death Trend - 8th Apr 24
Gold Is Rallying Again, But Silver Could Get REALLY Interesting - 8th Apr 24
Media Elite Belittle Inflation Struggles of Ordinary Americans - 8th Apr 24
Profit from the Roaring AI 2020's Tech Stocks Economic Boom - 8th Apr 24
Stock Market Election Year Five Nights at Freddy's - 7th Apr 24
It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- 7th Apr 24
AI Revolution and NVDA: Why Tough Going May Be Ahead - 7th Apr 24
Hidden cost of US homeownership just saw its biggest spike in 5 years - 7th Apr 24
What Happens To Gold Price If The Fed Doesn’t Cut Rates? - 7th Apr 24
The Fed is becoming increasingly divided on interest rates - 7th Apr 24
The Evils of Paper Money Have no End - 7th Apr 24
Stock Market Presidential Election Cycle Seasonal Trend Analysis - 3rd Apr 24
Stock Market Presidential Election Cycle Seasonal Trend - 2nd Apr 24
Dow Stock Market Annual Percent Change Analysis 2024 - 2nd Apr 24
Bitcoin S&P Pattern - 31st Mar 24
S&P Stock Market Correlating Seasonal Swings - 31st Mar 24
S&P SEASONAL ANALYSIS - 31st Mar 24
Here's a Dirty Little Secret: Federal Reserve Monetary Policy Is Still Loose - 31st Mar 24
Tandem Chairman Paul Pester on Fintech, AI, and the Future of Banking in the UK - 31st Mar 24
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Graduate Finance Best Current Bank Accounts

Personal_Finance / UK Banking Aug 02, 2010 - 10:10 AM GMT

By: MoneyFacts

Personal_Finance

Best Financial Markets Analysis ArticleAs another academic year closes, many graduates are leaving university to enter very challenging times. Unemployment remains high and could increase further once public sector cuts are fully realised, leaving limited job opportunities for graduates.


The transition of moving from full time study to full time employment can be a difficult period, but its important graduates prioritise on tackling what is likely to be a large student debt.

Michelle Slade, Spokesperson for Moneyfacts.co.uk, comments:

“After years of studying, it is unlikely that sorting out their finances is the first thing on graduates’ minds, but with many leaving university owing a five figure sum, finding the best graduate account for their circumstances could help save them money.

“Many graduates will inevitably remain loyal to their student account provider, but there is no reason why they can’t switch to get a better deal.

“The interest free overdraft of a graduate account is the most important element.

“By finding an account offering the highest level of interest free borrowing, graduates can ensure they don’t pay more interest than they need too.

“Most graduates will have more debt than the interest free limit, so finding an account charging a competitive rate on any additional borrowing is vital.

“The Barclays Bank Graduate Additions account charges a £7pm fee, but the additional £1,000 interest-free overdraft in the first year compared to other non fee paying accounts makes it worth considering.

“Many accounts offer incentives in order to attract your business, but they should be a bonus and not the reason for selecting the account.

“Graduates shouldn’t bury their heads in the sand over their debt. By working out exactly how much they owe, they can set themselves a monthly budget and decide how much they can afford to repay.

“As with any debt, paying off those charging the highest rates of interest first is key.

“Credit card debt is typically the most expensive and should be repaid first, while the interest payable on a student loan is much lower.

“Graduates are key targets for banks, as many will go on to well paid jobs and will likely buy other financial products such as mortgages from them in future.

“Most banks offer specialist advice services for graduates, which will offer invaluable advice for anyone struggling with student debt.”

Graduate Accounts

www.moneyfacts.co.uk - The Money Search Engine

Moneyfacts.co.uk is the UK's leading independent provider of personal finance information. For the last 20 years, Moneyfacts' information has been the key driver behind many personal finance decisions, from the Treasury to the high street.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in