Debt fears of young people revealed

A large proportion of young people today worry about being in debt and worse off than their parents', a new poll has found.

The surve…

A large proportion of young people today worry about being in debt and worse off than their parents', a new poll has found.

The survey by Young Enterprise of 14 to 18-year-olds found only 52 per cent expected they will be richer in the future than the previous generation, with the remainder either expecting to be worse off or around the same level.

Debt is a particular concern, with 67 per cent saying they worry about this being a major feature of their lives.

Commenting on the findings, Young Enterprise chief executive Michael Mercieca described as "worrying" a situation in which many young people "fear they face a growing threat of debt and unemployment".
 
The concerns of young people may be well justified, on the basis of a recent survey by Scottish Widows thinktank Centre for the Modern Family.

It found that a fifth of families are struggling to make ends meet and the problem is particularly acute for younger people, with those aged between 18 and 34 being more than twice as likely as the adult population as a whole to take out a payday loan.

Posted by Paul Thacker

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