/ Author: SPF

Guernsey College of Further Education students have been benefiting from a series of informative talks from SPF private clients.

This is the start of a new initiative aimed at school leavers, to give them a better insight into the world of finance, mortgages and pensions and to help them plan for their futures.

The presentations have been hosted by SPF’s Gary Wallbridge, and have proved very popular with the colleges. The main aim of this type of interaction with the students is to help give them a better understanding of the Guernsey housing market, both rental and purchase, and to provide them with the basic fundamentals of financial planning, in order to help prepare them for the inevitable scenario of eventually leaving home, and supporting themselves.

“This a great opportunity to meet with these students and get them to start thinking about their future financial planning and buying a property is something they will all need to consider at some point in their life” Gary explains.

The latest talk titled ‘Planning For the Future’ was held at the Delancey campus, and the final year students engaged well during the discussions.

Topics included renting property, the process and benefits of purchasing a property, the current housing market in Guernsey, how mortgages work and what steps to take in order to qualify for one. Employment and the principles of taxation was also discussed.

The students were encouraged to investigate the property market on estate agent websites, to get them thinking about which options may seem appealing to them. Gary then gave some examples of scenarios that they might face, with regards to finance and employment and the session concluded with a short quiz, to help them understand the process of mortgage application and the main roles of a financial advisor.

It is hoped that by interacting and guiding young adults before they leave education, that this will help to get them thinking about what options they have in later life, and help to dispel the common fears that getting on the property ladder is an impossible option for young individuals.

Following the success of these talks, further sessions are being planned with local schools and colleges, and SPF are looking forward to providing advice and support to Guernsey’s future generations.