Parents also expressed concerns about the impact of the financial crisis on young people’s job prospects, with more than a third saying it is likely to restrict employment opportunities.
The data, collected by research company Censuswide, also shows that more than a third of young people had to reduce their social life to save money, and one in five say their access to regular meals has been affected.
More than half add that their mental health had been negatively affected by the cost-of-living crisis.
The research reveals that the majority of young people and parents believe the government is not doing enough to support young people during the cost-of-living crisis.
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