21st September 2015
The high cost of living is forcing more than a third of 18-24 year-olds to take a second job just to make ends meet, claims a new study.
Under-25s are working more than 50 hours a week, with 15% regularly working more than 70 hours a week, according to the Debt Advisory Centre.
Typically, they opt for restaurant and bar work, child minding, cleaning, administrative or retail work, which they can do at weekends or in the evening after their main job.
On average, their hard work is rewarded with an additional salary of more £1,700, although a fifth earn less than £500 from their second jobs.
Young adults in the UK are most likely to struggle with housing costs and utility bills, and are relying on credit cards and loans to make ends meet.
Almost a third of 18–24 year-olds used credit to pay their housing costs last year, according to separate research. This compares with an overall rate of 16% of adults who resorted to this.
Interestingly, women are also more likely to have a second job to be able to afford essential bills than men the research shows.
Relying on several incomes that have different pay days means that many young people find it difficult to schedule their bills across the month. An overwhelming 72% say that having multiple incomes means they struggle to budget for all of their essential costs.
But it isn’t just the younger generation who work two jobs though. Overall, more than a fifth of adults in the UK are working a second job, and many of these are doing so in order to get by financially.
Melanie Taylor, a spokeswoman for Debt Advisory Centre, says: “It’s worrying that so many people are having to rely on working several jobs to be able to meet their essential costs. This is especially true for young people, either because they couldn’t survive financially without it, or just to make their financial situation a bit easier.
“Whilst having extra income gives people the peace of mind that they can afford their bills, working night and day can put a real strain on health, family and relationships.”