‘Serious financial pressures’ brought to bear on youth

Today’s young people are living in a different and more pressurised financial environment than their parents, it has been claimed.

Damian Barr, author of Get It Together: A Guide to Surviving Your Quarter-Life Crisis, has told Press Association student debt and high career expectations are putting undue levels of pressure on those between 18 and 30.

He added that an unaffordable housing market still further increased difficulties for the generation – which could prompt them to seek debt advice.

“The reality is that today’s 20-somethings are dealing with a socio-economic environment that’s very different to when their parents were young and things aren’t as easy any more,” he said.

Mr Barr was responding to figures from property firm Gumtree which indicate that 35 per cent of the age group admit to being weighed down by credit card debts – a problem potentially addressed by debt consolidation loan.

According to recent figures from Chiltern, men in the UK are 20 per cent more in debt on average than their female counterparts.