Wednesday, 1 July 2009

Some young people feel shame about claiming Job Seekers’ Allowance and Income Support despite the rise in youth unemployment, a study published today by young person’s charity YouthNet shows.

The report, published as part of a project funded by HM Revenue & Customs, provides a snapshot of young people's finances and the mental burdens they face, suggesting that young people would rather be financially independent than rely upon the welfare system.

The results were collected via an online survey hosted on YouthNet's support and advice service TheSite.org, which was completed by 521 young people aged between 16 and 24, from 6 January to 18 February 2009.

Matt Whyman, a regular advisor on TheSite.org with years of experience as an expert and author on young people's issues, says: "Young people need both practical and emotional support when it comes to managing their finances, especially during the current economic crisis.

"Money problems can leave some feeling like they're sinking, which in turn can erode self-esteem, and is not a situation in which most young people want to be. But, if young people find themselves forced into debt, it's vital they are encouraged to seek information and advice that enables them to regain their confidence, resolve their money issues and become sound in mind - as well as pocket."