One man told me about his personal experience with debt, which was that he wasn't well enough educated with his personal finance and as a result, as a teenager he fell into the trap of opening store cards. An at the age of 21 he found himself declaring bankruptcy due to the amount of debt he got himself into.
He also went on to say that he believed the teaching of finances should not be left up to parents. As in his experience a lot of parents were financially immature themselves. I found this response really interesting as this gentlemen is actual living proof as a result of being aloud credit without very much knowledge and using it inappropriately.
On the other hand another man actually made a fair point that personal finance is something you just learn as you go along, a bit like bringing up children and you just muddle your way through it.
Another person shared their personal experience with me. Which was yet again that they had never really been taught to look after their own finances. An at the age of 18, they decided to opened a current account and were given a £500 overdraft. Five months later they decided to open a credit card aswell and then nine months later they defaulted on the payment on both of them and learnt their lesson the hard way and are now trying to rebuild there credit history.
The final important response was from a women who told me about her own personal experience of how her debt as a student completely spiralled out of her control.
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