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In theory, most banks offer services geared specifically toward consumers whose low income is offset with the strategic prospects they offer over the long term. But the truth is that the banks don't give as much as their advertising promises. The Organization of Consumers and Users says many of those investment products are not all that appealing, and involve requirements that not all young people can handle. A study by the organization says commissions charged for maintaining a bank account and interest rates involved in� credit cards penalize people on the basis of their age.

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The main obstacle young people face is in obtaining a loan. To cut down on late or missed payments, most banks and savings and loans require young people to find someone to co-sign the loan and take responsibility if the loan-holder comes upon financial troubles. No bank takes a good-hearted risk on someone whose solvency is unproven. In other words, if you are young and want to finance graduate studies, buy a car or motorcyle or start a business, the bank will require someone to co-sign the loan.

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Young people who have jobs can avoid this requirement for some loans, although some banks require insurance designed specifically to protect against job loss. This is a form of economic discrimination against young people compared to older people. But the insurance is not really a burden because in the case of a home loan, for instance, the mortage payment will only go up three or four euros.

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Today's macros economic situation, with historically low interest rates, works against a series of investment products that got a lot of publicity several years ago: savings insurance. This coverage was aimed at parents who wanted to guarantee a comfortable economic situation for their children in case either of the parents died. But today it is not popular among analysts because much of the profitability is eaten up by maintenance and management fees.
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Young people seeking a consumer loan should pay special attention to the small print on the contract. Many young people fall for offers of low monthly payments in exchange for a longer-term loan. The final result is a more expensive loan. The longer you have to pay back the loan, the more you pay in interest.�

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Meanwhile, Spain's main universities have agreements with some banks to provide scholarships or student loans, but always at the going interest rate. The bottom line is nothing comes for free, and even less so when money is involved.