Young people aged 18-34 are three times more likely than over 55s to have their mental health significantly worsened by financial concerns. The cost of living crisis has led to a higher reliance on credit among the younger generation.
More than a third of 18-34 year olds admit being in more debt than a year ago, with 33% stating that debt is negatively impacting their mental health. Financial concerns have led to sleep difficulties and reduced work performance for many young individuals.
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