Money is the biggest source of stress for under 25s
The stress management survey commissioned by The Mix in September 2017 revealed that 97% of 16 to 25s were feeling stressed. Not having enough money was the largest source of young people’s stress (60%) followed by work (42%) and studies (32%). This research reflects what we’ve been hearing from young people over the last few years – money worries are often intertwined with other issues in a young person’s life such as mental health, relationships, education and homelessness.
Last year, Money Advice Service found that only 4 in 10 young people aged 7 to 17 receive financial education at school and nearly 40% of parents said that they don’t feel confident talking to their children about money. This highlights a worrying lack of education around money inside and outside the classroom.
Support articles about how to get a job and how to claim jobseekers allowance have been in the top ten most visited articles on The Mix over the last year. Articles providing expert information on statutory sick pay and employment support allowance have also been very popular.
In response to these worrying trends, The Mix, in partnership with Money Advice Service, has developed The Mix Money, a free expert helpline providing support for young people. The Mix Money helps young people find the right financial information and support at the right time.
The service empowers young people to be more confident with managing their money. It aims to help young people gain a better understanding of their relationship with money so that they can prevent themselves sliding into financial difficulties.
Chris Martin, CEO of The Mix says: “Money can be an embarrassing and taboo topic for many young people. It can also be one that is easy to ignore. Unfortunately, if it’s not managed well, it can start to impact every aspect of a person’s life – from relationships to their mental health.
We are proud to launch The Mix Money, a free, trusted and easily accessible information and support service to help young people avoid financial difficulty. If they do get into trouble – they can talk to us.”
We will be celebrating The Mix Money during Financial Capability Week 2017 with a public event in Nottingham.
Call The Mix Money on 0808 808 4994 and select option one.
For any interview requests, additional information or to attend our public event, please contact Françoise Facella at The Mix: [email protected] or call 07766 660 755.
Published on 04-Oct-2017
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