Sarcasm aside, I’m serious.
A survey of 4,000 people aged 18-30 shows that 51% of young women and 45% of young men regularly use credit to stretch their finances until payday. The report also found that a quarter of young people in the UK are constantly in debt.
When asked how young people made their cash last to the end of the month, one in five said they used their overdraft and a similar number borrowed from family. The next most popular form of borrowing by people in the age group was using a credit card.
One in 10 said they had used a payday loan company, although for parents aged under 30, this number increased to one in four.
The Young Women’s Trust, which commissioned the representative sample of young people, said many of those questioned in the survey also worked extra hours or skipped meals to make their cash stretch to the end of the month.
And guess who is to blame?
“Young women are more likely to be stuck on low pay and on zero-hours contracts, which mean they don’t know how many hours they will work each month and whether they will earn enough to pay their bills.