More than three-fifths of UK young adults think brands have an important role to play in educating them about debt and credit, new research has found.
The study, Money Talks 2025: The Youth Tax, is a continuation of a research project by UM in partnership with MoneySuperMarket and charity Campaign Against Living Miserably. It seeks to explore the mental health impact on consumers amid an ongoing financial crisis.
While 64% of 18-24s surveyed think brands play a crucial part, a similar proportion (62%) believe retail brands in particular are not doing enough to help them understand the risks around credit.
In fact, 66% don’t think brands are transparent about the potential risks of the credit options they offer.
Meanwhile, 50% of young adults say they have been encouraged by brands to use credit options to pay. This feeling is particularly strong with financial brands: 56% believe those companies tend to encourage young people to take on loans and credit.
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Social media adds to financial pressure
More than half of participants say they feel pressure from social media platforms to buy things either to fit in or look a certain way, while 43% feel they need to spend more than they can afford to keep up with what they see on social media.
These concerns highlight the mental health issues facing young people amid the ongoing cost-of-living crisis, the study suggested.
It found that 52% of young people are more worried about money now compared with a year ago and a quarter of them are currently in debt. Of those in debt, one in 10 have experienced suicidal thoughts and a third have self-harmed due to financial worries.
Olivia Wilton, insight manager at UM London, said: “Social media campaigns are vital to brands because they need to be where those young adults are and we’ve recently seen announcements that some major brands are moving to influencer-led strategies.
“However, social media needs to be handled carefully to prevent more young people slipping further into debt.
“With trust in institutions fading fast and a mental health crisis developing, it’s up to responsible brands to step up to educate younger consumers about money. Those that create platforms for education and give people somewhere safe to talk about their money worries can differentiate themselves within their category.”
The first Money Talks study, involving UK consumers, was published in 2024. It found that more than half of people wanted brands to be more sensitive to people’s financial struggles and almost three-quarters would welcome financial advice from brands.
UM’s latest survey involved 1,500 people aged 18-24 in the UK.
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