IVA & Debt Consolidation Advice

The age old rule is spend only what you earn. But for many young women today, this rule is not followed resulting in spending thousands more than you can afford resulting in massive debt.

It is suspected that four out of every five women between the ages 21 and 25 spend more than they earn each month, said the survey by women's magazine More. This is a truly astounding figure.

On average they spend about 3000-4000 euros more than they can afford annually and this adds up quickly over just a few years.

The reason for this figure? Many people believe it is because these young women want to be WAGs, or like wives and girlfriends of the English soccer team. These wives spend and live extravagantly and when the average 20 year old woman does too, she often finds herself in serious debt.

Donna Armstrong, the editor of More, said: "Most young women want to be a WAG - shopping and partying with their friends. For most 23-year-olds the idea of a mortgage is a distant dream. Victoria Beckham, wife of superstar soccer player David Beckham is the ultimate icon for today's young women. They admire her style and want her wardrobe."


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