Key findings:
- Young people living independently face the same costs regardless of age, yet the social security system provides a lower rate of benefits to people under 25 – Universal Credit is £70 a month less. Having to manage on a very low income, impacts not only on young people trying to get by day to day, but also on the ability to move forward in their lives. Struggling to cover essentials let alone anything else, especially with rising food and energy bills was a constant stress.
- Earnings from work can enhance living standards and help support young people towards independent living, but the stability and adequacy of earnings is crucial. Fluctuating hours and pay could upset benefit payments, and cause difficulty for young people’s budgets and housing costs.
- The complex interaction of earnings with the social security system for young people living in supported accommodation caused uncertainty about the financial viability of working
- Supported accommodation is an important ‘stepping stone’ towards independent living. Support and advice from housing providers can help ease the transition and settling into independent living
What would help young people:
- Adequate Universal Credit rates for young people under 25
- Work needs to be viable with less complex interaction with the social security system
- Improving access to affordable and suitable housing
- Subsidised transport could ease financial pressure and increase opportunities
Read the full Research Report and Findings Summary here