The level of expenditure faced by young people when they reach the age of 18 is significantly higher than has historically been the case, it has been claimed.

Alastair Mathews, director of policy for monetary awareness charity the Personal Finance Education Group, warns that more teaching of contemporary issues is required.

This should have a real-world basis, he contends, but "an awful lot of what happens at school is not about that".

Many young people could find they have insufficient savings to cope with the pressure on their finances upon reaching adulthood.

Concerned parents could opt for secured home loans as a means of releasing the equity held in property and helping their offspring through such a crisis.

"Young people now recognise that they're going to be incurring considerable financial expenditure in the years immediately after they turn 18," comments Mr Mathews.

But repaying secured home loans might not be out of the question as he adds that those reaching the age of 18 are typically "serious and responsible about money".ADNFCR-1287-ID-18334218-ADNFCR

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