Young people worry about money more than any other group, according to recent research by MoneySupermarket.com.
It revealed that 62% of those aged between 18 and 24 years old find it a struggled to cope with finances and are frequently or occasionally worried about their money.
In comparison, 31% of the UK say their financial concerns are their biggest stress, while 48% of the population (15.6 million) say they are frequently or occasionally worried about their cash flow.
Editor-in-chief at MoneySupermarket.com Clare Francis said: “While we have recently narrowly avoided a triple-dip recession, the impact of the last five years has hit people’s finances hard, and so it is not surprising that it is such a cause of anxiety and stress.”
Paul Farmer, Chief Executive of mental health charity Mind, stated that people with serious financial concerns can seek help and advice to resolve their worries as soon as possible.
He went on to say these stresses can turn more serious, leading to anxiety and depression if they are not dealt with effectively.
University students who are worried about their cash flow problems can receive information and guidance from Mind on how to sort their finances out or call a professional on its helplines.