💨 Abstract

The author recounts their experience of recklessly spending a £2000 unasked-for overdraft at 18, leading to a shopping spree. They later realized the danger of such spending habits and the importance of responsible money management. The article then discusses appropriate overdraft limits based on age, with experts Matthew Sheeran and Pernia Rogers providing guidelines. For ages 18-24, limits are typically £100 to £500.

Courtesy: Sophie-May Williams