Third of young parents are facing festive debt

AROUND A third of young parents expect to get into debt this Christmas, as food costs rise and wages stagnate, according to a study from the Young Women’s Trust.

Twenty nine per cent of mothers and fathers aged 18 to 30 who were quizzed on behalf of the charity said they will “most likely” be faced with expenses they cannot afford over the festive period.

Young women, with and without children, are more likely to be in debt over Christmas than young men, according to the trust’s research.

The Populus Data Solutions poll of more than 4,000 young people found that nearly one in five young women (18 per cent) will be in debt this Christmas, compared with one in seven young men (15 per cent).

The charity carried out research earlier this year which concluded that more than a quarter of young mothers (27 per cent) use foodbanks or have used them in the past.

Young Women’s Trust chief executive Dr Carole Easton OBE said: “Young people tell us they want to work hard and be financially independent but as prices rise and wages remain low, more and more are struggling. Christmas is a particularly hard time for those on low pay who want to provide for their families.

“Young women are more likely to be stuck on low pay and on zero hours contracts. Often they don’t know how many hours they will work each month and whether they will earn enough to pay their bills.

“It can be particularly hard for young mums; in some cases, low pay means an hour’s childcare costs more than an hour’s wages. As a result, many are failing to make ends meet and are falling into debt.”

She added: “Much more needs to be done to improve young people’s prospects. This means giving them the right skills and support to find jobs, ensuring decent and flexible jobs are available and paying a proper living wage that doesn’t discriminate against age. This would benefit businesses and the economy too.”

The Young Women’s Trust supports and represents women aged 16-30 who are on low incomes or facing poverty. The charity provides services and runs campaigns to make sure that the talents of young women don’t go to waste.