UK debt advice charity warns that cost of living crisis and higher rents are pushing younger full-time workers into difficulties
Advisers taking calls at StepChange in Leeds. The charity has seen a rise in the number of people seeking help.Advisers taking calls at StepChange in Leeds. The charity has seen a rise in the number of people seeking help.A rising number of people in full-time work, including those in jobs such as nursing, have been seeking advice on debt, amid warnings that a growing cohort of younger workers is struggling to make ends meet.
It included a steady increase in the proportion of full-time employees seeking help, up from 38% in 2021 to 44% by the end of last year. It said it was working with a widening group of people being dragged into debt problems and “negative budgets”, where their income no longer covers basic outgoings. Nurses, call-centre staff and similar white-collar workers are among them.
There also appears to be a worrying amount of debt among workers under 40, who are more likely to have faced significant rent increases in recent years. The age group was disproportionately represented among those who sought the charity’s help. About two in five of StepChange’s clients in full-time work are renting their home in the private sector.
“The cost of living crisis has expanded the proportion of the income bands that are vulnerable to falling into debt,” said Peter Tutton, StepChange’s head of policy. “We’ve seen more people come to us who have what we call a negative budget. At the other end, we’re seeing people on slightly higher incomes being pulled into debt advice.
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