The troubling statistic, unearthed in a poll commissioned by The Open University, is just one of several figures revealed through the survey of 1,000 young people. Almost a third (32 per cent) say they are feeling the impact of inflation in their daily lives, while 18 per cent have reached out to a foodbank for help for the first time in their lives.
Nearly 25 per cent of young people polled say they are worried about what the future holds, and tragically, we can’t say we’re surprised.
“Although financial anxiety is at an all-time high for all, it’s particularly difficult for young people, since they are making vital decisions at a crucial point in their lives,” said Martin Upton, a senior lecturer in business at The Open University.
So what help is out there for young people struggling with the cost of living, exactly?
All households in Great Britain will receive £400 off their energy bills from October, spread out over six payments until March next year. No application is necessary and the money does not need to be paid back.
Your local authority may also be able to help you with certain costs as well. They can point you in the direction of your local foodbank if access to food is an issue, as well as offer support around housing and energy costs.
Mental health support
Of course, there’s no denying that the cost of living crisis can also have a significant impact on an individual’s mental health, and there are organisations available to offer support with the challenges that can create – whether they are prompted by the cost of living crisis or something else entirely.
Samaritans offers support over the phone for free and in confidence on 116 123 in the UK and Ireland, on email at email@example.com, and on their website where details can be found of their local branches.
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