Millions of young adults are avoiding checking their bills because it makes them anxious, according to our recent research.
Seven out of 10 (70%) of the 2,000 18-40 year olds we spoke to told us they put off checking their bills or financial statements.
More than a third (36%) of these gave money anxiety as the reason – that’s equivalent to around 5.3 million people.
Over a quarter (27%) said it’s because it makes them feel sad.
Gender divide
Our research suggests that money worries disproportionately affect women, who are also less likely to have emergency savings.
While 41% of the women who told us they avoid checking statements say it’s due to money anxiety, only 30% of men gave this reason.
Our separate research into emergency funds could shed some light on this gender difference. Almost half of the women we spoke to (48%) said they rarely or never put money aside for emergencies, compared to 40% of the male respondents.
While the gender pay gap is closing, in April 2025 women were estimated to be earning 6.9% less than men on average.
Why are young people worried about money?
Average wages are currently rising faster than prices and, on paper, young people are benefitting from this. The National Minimum Wage, which applies to people under 21, increased 16.3% in April 2025 and is set to jump another 8.5% in April 2026. Apprenticeship pay has seen similar increases (18% in April 2025).
However, many people are unable to find work (unemployment rate was 5.2% in the three months to December 2025) and increases in wages are little comfort to people not earning.
Plus, young people are disproportionately affected by unemployment, with 16.1% of 16-24 year olds who could work, out of work. That’s nearly one in six unemployed.
Minimum Wage increases are thought to have contributed to this, with some businesses simply unable to offer the entry-level jobs or apprenticeships that many people rely on at the start of their career.
“Young adults are feeling the squeeze, and it’s understandable that this is causing worry and concern,” says OneFamily CEO, Jim Islam.
“These findings highlight the urgent need to help individuals feel confident in managing their finances.”
Jim suggests that the finance industry has a role to play in changing the picture for young people by giving them the skills and knowledge they need to feel capable of managing their money and avoiding debt.
“With continued innovation, access to the right tools and better education, there is a real opportunity to help people feel empowered by their money, not overwhelmed by it,” he says.
“It’s vital that people don’t shy away from their budgets and bills, and the industry must ensure their services are accessible to help people navigate their everyday financial decisions in difficult times.”
