More than half of young adults in the UK have, or are considering, altering “major life milestones” to cope with strained financial circumstances, new research has found.
More than one in two 18- to 34-year-olds (56 per cent) have either had to delay or cancel significant life events or have “been forced to rethink” pursuing them due to financial concerns, according to wealth adviser St James’s Place, which surveyed 6,000 UK adults.
To save money and avoid overspending, one in 10 of those surveyed have found themselves renting for longer than planned to avoid homebuying costs including property taxes and other fees such as stamp duty, while 8 per cent are altering plans to move house or reconsidering decisions to have children.
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