The title is taken from their facebook group, being a former employee of the bank I am a member.
Whilst I worked at Egg I learnt a great deal about money management, not because we were taught it, but after 6 months of speaking to people on the phones, you quickly picked up on some of the mistakes that would so commonly happen to youngsters.
In my training we were taught the Egg motto of helping customers ‘revolutionise their lives, by helping them manage their money better’. This was a mantra that I truly believed in, and for the majority of the time it was something I thoroughly enjoyed doing.
It came as no surprise to me, they have decided to take some peoples credit cards off them, I believe that as we enter a slowing down, I think we will see more of it from the bigger banks, and for one I am very glad. Personal debt is at a staggering amount in this country over a trillion pounds, even though there is a strong argument to suggest that not even this amount of money exists!
I was completely staggered by the amount of credit I was able to obtain in my gap year, without partciuarly trying just applying for a couple of credit cards, I received dangerous amounts of money.
I learnt a great deal whilst at egg, but it is something that is majorly missing in our schools, is education of money management and the value of money. Of course this cannot always be done inside the classroom and I dare say we have all made mistakes from money that we have learnt from. I really hope that George Osborne enforces the idea of money management, because I think it is truly something the current Labour Government have failed to combat