This 2017 survey shows that while around half of young people are getting by financially, the other half, an estimated 5 million 18 to 30 year olds, are struggling to make ends meet, including 1 million young people who are facing dire financial problems.
As a result, many young people are unable to move on with their lives and are facing a loss of confidence, anxiety and worsening mental
health worries. Once again young women are being hit hardest.
These serious and enduring financial problems are having a wider impact on many young people’s lives. They also go a long way to explaining why confidence and hopes for the future amongst young people are low and why worries about mental health are so high, and worsening. It is in none of our interests to have so many young people struggling and worried.
A confident nation requires a confident population, and this clearly isn’t the case for today’s generation of young people. These are worrying times for young people. It is clear from our findings that things need to change, especially for young women – and in particular for those on low or no pay. Unless concerted action is taken across Government to listen to and transform opportunities for young people we risk losing a generation to low pay, debt, low self-confidence, worry, anxiety and ill-health
Our findings show young women are consistently more likely than young men to encounter money problems, workplace discrimination, health problems, worries about the future and low confidence. Women from the lowest socio-economic groups are faring worse still, with their situation also deteriorating in the last 12 months.
