Paying the price: can we help the most vulnerable young people avoid unmanageable debt?

Document type
Corporate author(s)
Action for Children (Great Britain)
Action for Children
Date of publication
11 December 2014
Children and Young People, Poverty Alleviation Welfare Benefits and Financial Inclusion
Social welfare
Material type

Download (798KB )

Debt is becoming normal but young people do not understand the risks involved. 67 per cent of households across the UK headed by 18-25 year olds have unsecured debt. For many, the debt is becoming unmanageable. The extra burden can have long-term effects on their life chances and health, especially for those who already face challenges. Vulnerable young people are accessing high-interest loans and products. This is being made worse by a lack of financial knowledge. 45% of children and young people across the UK have not received financial education or do not know if they have done so. This policy paper examines the impact of not having financial skills and the devastating effect of problem debt facing vulnerable young people.

Related to Children and Young People

UK children's commissioner's UNCRC mid-term review

Summary of the activities of the Children's Commissioner

EU status for settled children

Briefing on the legal position of children within the EU settled status scheme

Gaming the system

Report on children and video games

A manifesto for children

Children's Commissioner manifesto on improving the life chances of disadvantaged children

More items related to this subject