Skip to content 
Search

Latest Stories

UK young adults face 'cost of living crisis', says study

UK young adults face 'cost of living crisis', says study

BRITAIN'S young adults are facing a "cost of living crisis" as they struggle to pay bills while trying to save for the future, a study showed on Wednesday (13).

Hard hit by the fallout from the coronavirus pandemic, almost half of 18-30 year olds in Britain have "low financial resilience", cross-party think tank Demos concluded in a report carried out the Yorkshire Building Society, a UK lender.


The report, based on a June survey of 2,000 adults, urged prime minister Boris Johnson's government to tackle "what appears to be a cost of living crisis for young people".

Findings showed that young adults in the UK "are significantly more likely to have fallen behind on domestic bills and credit card repayments in the last six months" compared to those aged over 51.

Young adults are also spending more than twice as much as older people on essential items, such as rent.

The report's co-author Ben Glover of Demos said that despite young adults being "accused of spending too much money on coffees and avocados and not being financially prudent", the findings showed they were in fact "trying to look after their finances and save for the future - more so than any other age group".

Mike Regnier, chief executive of Yorkshire Building Society, noted that even before the pandemic, many young adults faced a difficult financial situation.

"The impact of Covid-19 on the economy has only exacerbated this."

(AFP)

More For You

Court to review teen's sentence in Bhim Kohli case
Bhim Kohli

Court to review teen's sentence in Bhim Kohli case

THE seven-year prison sentence handed to a 15-year-old boy convicted of the manslaughter of 80-year-old Bhim Sen Kohli is to be reviewed under the UK’s Unduly Lenient Sentence (ULS) scheme.

The Attorney General’s Office confirmed on Friday (5) that the teenager’s sentence will now be considered by the Court of Appeal.

Keep ReadingShow less
Dalai Lama hopes to live 'beyond 130 years'

Tibetan spiritual leader the Dalai Lama attends a prayer meet held for his long life at the Dalai Lama temple in the northern hill town of Dharamshala, India, July 5, 2025. REUTERS/Anushree Fadnavis

Dalai Lama hopes to live 'beyond 130 years'

THE Dalai Lama said on Saturday (5) he hopes to live until he is more than 130 years old, two decades longer than his previous prediction, following his assurance to followers that he would reincarnate as the spiritual head of the faith upon his death.

The Nobel Peace Prize winner was speaking during a ceremony organised by his followers to offer prayers for his long life, ahead of his 90th birthday on Sunday (6), and as China insists it will choose his successor. The Dalai Lama told Reuters in December he might live to 110.

Keep ReadingShow less
UK heatwave by mid-July

Daytime temperatures meeting or exceeding set thresholds of 25°C

iStock

Met Office warns of potential third UK heatwave by mid-July

Key points

  • Met Office forecasts rising temperatures by mid-July
  • Possible third heatwave after record-breaking June
  • High pressure system likely to bring hot air from the Atlantic
  • Yellow rain warning and flood alerts issued in parts of Scotland and Cumbria

Possible heatwave to return by mid-July

The UK could experience its third heatwave in a month by mid-July, the Met Office has said. Forecasters expect rising heat and humidity during the second weekend of July, following two weekends of unusually warm weather in late June.

June was officially the hottest on record in England, and the return of high temperatures could mean another heatwave for parts of the country. However, the Met Office cautioned that it is too early to confirm how hot conditions will get.

Keep ReadingShow less
crypto

Two men have been jailed for defrauding investors of £1.5 million through a fake crypto investment scheme. (Representational image: iStock)

iStock

Two jailed over £1.5m crypto investment scam

TWO people who duped investors of £1.5 million by selling fake investments in crypto have been jailed for 12 years, the Financial Conduct Authority (FCA) said.

Raymondip Bedi, of Bromley, and Patrick Mavanga, of Peckham, conned at least 65 people by cold-calling them between February 2017 and June 2019. They operated companies including CCX Capital and Astaria Group LLP.

Keep ReadingShow less
Manchester Police probes over 1,000 child sexual abuse suspects

Photo for representation. (iStock)

Getty Images/iStockphoto

Manchester Police probes over 1,000 child sexual abuse suspects

GREATER MANCHESTER POLICE is now investigating more than 1,000 child sexual abuse suspects, following years of public criticism and institutional failings in tackling child sexual exploitation.

A new report by His Majesty’s Inspectorate of Constabulary and Fire & Rescue Services (HMICFRS) has revealed the force has made “significant improvements” in dealing with group-based sexual abuse and related crimes.

Keep ReadingShow less