Debt: young women facing constant financial struggle

26 November 2020

This report highlights that almost 40% of young women struggle to make their cash last until the end of the month and a third of young mums say they are always in debt.

Many of the young women surveyed said they live in daily dread of debts such as unsecured loans including credit cards, personal loans, store cards and overdrafts.

The survey found clear links between young women’s experience of debt and pay inequality, unaffordable childcare, a complex benefit system and sexism.

  • And one in three said they did not expect to be free of personal debt until they reach 40.
  • A third of young women turned down or left work because of travel costs. A third of young mums reported they turned down or left work because they couldn’t cover childcare costs.
  • And over one in five young mums also reported being paid less than the minimum wage they had been entitled to, and being paid less than male colleagues to do the same or similar work.