Recent research has revealed that 23% of people are struggling to meet their basic needs and have run out of money at least once in 2024. And the findings also showed that the age group most likely to fall short of cash were employees under the age of 45
One in four Brit workers say they are “broke” before payday, according to the results of a new survey.
HR and payroll software provider Ciphr found that 23% people have run out of money before their ‘pay day’ (or equivalent) at least once this year. This figure includes over a quarter of employees in full- or part-time work, a third of people who are unemployed receiving benefits, and 42% of students. The survey also found 30% of employees aged under 45 say they have also struggled to pay their bills or buy food this year.
Employees under 34 are the most likely to have taken on a loan or additional loans, as well as the most likely to have moved in with friends or family to save money. Younger workers are also significantly more likely to have worked through illness this year, rather than take unpaid sick leave.
