Business · Economy · 3 hrs ago
Only half of young adults say they can cover basic living costs
A UK study found that only 49% of people aged 18 to 24 surveyed could afford basic living costs each month.
Just 19% said they were financially independent from parents or other relatives, compared with 57% across all age groups.
The research drew on a survey of more than 4,200 people and data from StepChange clients aged 18 to 34 who received advice in 2025.
Among those StepChange clients, 44% had borrowed to pay housing costs, and 49% did not earn enough to cover essential expenses.
Researchers and StepChange said high housing costs, uncertain incomes and early use of credit are making it harder for young adults to build financial stability.
A third of people aged 18 to 34 also said the pandemic had harmed their career progression.
The findings point to a need for earlier support, but no specific next steps were announced.
A report found that 49% of 18 to 24-year-olds surveyed could afford basic living expenses from month to month.
Only 19% of this age group were financially independent from parents or other relatives.
Among StepChange clients aged 18 to 34, 44% had borrowed money to cover housing costs.
The research linked housing costs, income insecurity and early reliance on credit with barriers to young adults’ financial resilience.
The report drew on StepChange client data and a YouGov survey of more than 4,200 people across the UK.
- Who
- Young adults in the UK, including those aged 18 to 24 and StepChange clients aged 18 to 34.
- What
- A report found that many young adults struggle to cover basic living costs and achieve financial independence.
- When
- Published on October 11, 2026. The YouGov survey was conducted in August and September.
- Where
- Across the UK.
- Why
- The report points to housing costs, income insecurity, cost-of-living pressures and reliance on credit.
This story does not have two clearly opposing sides.
Increasingly, however, that aspiration is out of reach.
On top of this, cost-of-living pressures are not letting up, meaning that consumer credit is often bridging the gap between income and essential outgoings for young adults.
The findings show how housing costs, income insecurity and early reliance on credit can combine to create significant barriers to financial resilience and independence.
StepChange client data covered 71,000 adults aged 18 to 34 who received advice.
YouGov surveyed more than 4,200 people across the UK.
The Evening Standard published the report’s findings.
- Basic living costs
- 49% of surveyed 18 to 24-year-olds said they could afford them month to month
- Financial independence
- 19% of surveyed 18 to 24-year-olds were independent from parents or other relatives
- Housing costs
- 44% of StepChange clients aged 18 to 34 had borrowed to cover them
- Essential costs
- 49% of StepChange clients aged 18 to 34 were not earning enough to cover them
- Research sample
- YouGov survey of more than 4,200 people across the UK
Sources
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