Young Brits ‘facing debt pressures’

Millions of young British adults are dealing with serious debt management difficulties, a recent study has suggested.

A survey carried out by Gumtree.com found that almost three-quarters of consumers aged between 18 and 30 were indebted and that many of them are struggling to debt free.

Around 35 per cent of people in this age bracket are dealing with credit card debts, while close to a quarter are still repaying their student loans, PA News reports.

“Today’s 20-somethings face serious financial pressures such as student debt, high career expectations and a property market that’s out of their reach,” remarked Damian Barr, author of Get It Together: A guide to Surviving your Quarter-Life Crisis.

More British consumers are relying on credit card debt to fund their everyday living expenses this month than was the case in January last year, according to a recent report from the Post Office.