Eagle Biz {%endif%}

Eagle Biz

www.eagleradio.co.uk/biz

{%endif%}
Sign up to become a Biz Member here
Sign up to become a Biz Member here
Let's Talk Business

Almost Half of Young People Skipping Meals to Survive

piggy bank

• A new report shows just how much young Brits are struggling for money. 1 in 4 say they are financially worse off than two years ago

• The average Brit also saves just £891 a year, with 1 in 5 not putting any money aside on savings

• Young people, in particular, are struggling. Nearly half (47%) of 18 to 34 year-olds have had to skip a meal because of financial concerns, compared to less than a fifth of 55-64 year-olds, and just 10% of over 65s

 

In the South East: 

• Over a quarter (28%) of people say they are financially worse off than they were two years ago 

• 1 in 5 (22%) don’t put any money aside on savings – the average person saves £572 a year 

• 1 in 5 (19%) have had to miss a meal in the past because money is tight 

 

Being savvy with money seems more complicated than ever. With house prices rising and living expenses getting more costly every year, it’s not a surprise that people feel financially stuck. 

 

In fact, new research by consumer champions MoneyExpert.com has revealed that 1 in 4 feel worse off this year than they did two years ago. This may be because saving itself has gotten harder: the average Brit only saves £891 a year, with 1 in 5 not putting any money at all aside for a rainy day. 

 

And young people are feeling the pressure the most. Nearly half of those aged between 18 and 34 admit that they have had to skip a meal because of financial concerns – in comparison, less than a fifth of those over 55 have done this. As well as this, almost two thirds (64%) of young people have given up, or cut down, on things they enjoy due to financial misfortunes. 

 

However, it’s the younger generation who are managing to put away their pennies. Three fifths of 18 – 24 year olds surveyed are regularly saving each month, compared to just over half of those aged over 45. 

 

Joining us to give advice and saving tips will be Jason Smith, commercial consumer champion and CEO of Money Expert. Jason has spent his career helping businesses and consumers alike save money and secure financial stability. 

Let's Talk: The average person saves £572 a year?

New research by consumer champions MoneyExpert.com has revealed that 1 in 4 feel worse off this year than they did two years ago. This may be because saving itself has gotten harder: the average Brit only saves £891 a year, with 1 in 5 not putting any money at all aside for a rainy day.