Young people feel financial stress more than anyone. Budgeting, jobs, studying and making money now and for the future are always big worries. Now the pandemic has hit them hardest of all.
Low pay, unemployment, job insecurity, the gig economy, debt and insecure housing have multiplied those fears. And not knowing what to do when facing redundancy and lockdown piled stress and mental ill health on top.
So the need to find new jobs, security, and smarter ways to budget and handle money are more urgent than ever. This is why The Big Issue launched our RORA Jobs and Training Toolkit. It has hundreds of thousands of jobs, free training courses, a weekly newsletter and a free three-month subscription to The Big Issue. It’s free and easy to sign up here.
And with our Big Issue Financial Health campaign – under Experian’s ‘United for Financial Health’ programme – we’re working with partners and experts to bring advice and tools to help navigate the months ahead.
Budgeting: sorting out your money
There are simple tips and tricks anyone can use to get your finances in shape using your credit score as a tool to get better deals.
Our partners at The Mix also have a wealth of advice for young people aged from 13 to 25 sort out the essentials of life. From homelessness to jobs, money to mental health, and sensitive personal issues, from break-ups to drugs, they’ve got support for all sorts of problems.
To help with managing money and finding the right advice during the pandemic there’s a dedicated set of free tools at their Money Management hub.
And a good place to start working on your financial health is The Mix’s online money management course, created with MyBnk. It can help you work out a budget planner, look for online budget calculators and find money saving tips.
Nick, head of education at MyBnk, has provided an indepth explainer for young people stressed about finances, with advice on how to manage money during the pandemic:
Share experiences with other young people
There’s also brilliant inspiration for new ways to earn cash in The Side Hustle Show.
Plus young people in lockdown share experiences, support and advice on the Checking In videos. They show you’re not alone, and we can get through it together.
Finding jobs: top tips
Youth employment is especially precarious during the pandemic. So information on employment rights is crucial. Minimum wage, redundancy, what employers can or can’t ask you to do – help is out there.
It’s a tough time for young people. But using tips like these for finding jobs, budgeting, making money, sorting debt and saving can help everyone get confident and plan for the future.