'I don't have a buoyancy aid': Living without the Bank of Mum and Dad
Summary
Many young people in the UK struggle to afford housing and living costs without financial help from their families, known as the "Bank of Mum and Dad." The article shares stories of young people who lack family support and face challenges in housing, work, and independence.Key Facts
- Over 40% of 25-year-olds in the UK live with their parents because housing is too expensive.
- Citizens Advice reports more people struggle to pay rent and buy food without family help.
- Eleanor Bell, 23, has a first-class degree but cannot find a stable job and lives with her boyfriend to save money.
- 39% of care leavers aged 19-21 in England are not working, training, or studying, compared to about 13% of all young people.
- Eleanor feels unsupported since she does not have family to help guide her through life challenges.
- Sam Barrett, 24, left her job to care for her mum and studies part-time but has little money, as benefits do not cover all her costs.
- Sam notices the financial advantage others have whose parents can pay for things like driving lessons or cars.
- Both Eleanor and Sam highlight the difficulties faced when there is no family financial cushion during young adulthood.
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