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A third of young people fear still being in debt at 40

Mounting
problems:
The study
found more
young
women find
it hard to
make their
money last

MORE than a third of young people believe they will still be mired in debt by the time they are 40, says research.

One in five is in debt all the time, a quarter are in a worse situation now than last year and 36 per cent do not think they will pay off what is owed in the near future.

A quarter say they have to borrow cash from parents, says a study of more than 4,000 people by the Young Women’s Trust.

It found 40 per cent of women struggle to make their money last the month compared with 29 per cent of men. Chief executive Dr Carole Easton said: ‘Young women remain more likely to be out of work, on low pay or in insecure work, which makes it hard to make ends meet.’

The trust wants the government to give young women the skills to find better jobs and extend the National Living Wage to under 25s. A government spokesman said: ‘The best way for people improve their finances is through employment and young people are entering the best jobs market in a decade. Since 2010, youth unemployment has fallen by over 45 per cent.’