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67% of British teens worry about getting into debt

By Daniel Culpan

23 July2021

More than two thirds (67%) of teenagers in the UK are anxious about getting into debt, according to a study recently carried out by Young Enterprise and Opinium Research.

The survey of more than 1,000 pupils aged 14-18 revealed the extent to which many young people are worried about their financial future, as the downturn continues and youth unemployment rises.

Almost three quarters (74%) of teenage girls are worried about getting into debt further down the line, compared with 59% of boys. It's perhaps unsurprising that many teenagers are concerned about facing a bleak future with their money, when many are aware of how their parents are struggling to make ends meet in the current climate.

Nearly half of teenagers (46%) said their family was cutting back on holidays and 37% said their household was shopping less. In fact, 16% of teens surveyed think that they will be worse off than their parents when they reach adulthood.

When it comes to employment, 56% of teenagers admitted that they're worried about finding a job. However, it seems that not everyone is pessimistic about the future. On average, teens think they'll become financially independent of their parents by the time they're 22 years old, and 74% said they would think about starting their own business when they're older.

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Tags: debt, debts, finance, personal finance, Opinium, Young Enterprise, youth, employment, unemployment, unemployed, teenager

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