Nationwide Building Society has issued a concerning warning after a new poll revealed that nearly two-thirds of young people expect to be worse off than their parents. The UK Youth Poll, conducted by the John Smith Centre in partnership with Nationwide, found that 66 per cent of individuals aged 18 to 29 believe they will be financially worse off than their parents' generation.
Young People's Financial Outlook
The poll highlights a deep sense of disappointment among young adults in 2026. While most 18-29-year-olds feel broadly positive about their lives, this optimism does not extend to their finances. More than half (51 per cent) are worried about their income levels, and only 29 per cent describe their finances as comfortable. Concerns about saving, debt, and income security are widespread.
Housing Affordability Challenges
Housing affordability remains a major issue. Only 58 per cent of those who wish to get onto the housing ladder believe they will eventually be able to do so. This has led many to take action: over half have reduced their spending, and more than four in ten have tried to increase their income. Among these, 14 per cent have applied for a new job, 16 per cent have taken on additional hours, and 11 per cent are exploring side hustles or entrepreneurial opportunities.
Nationwide's Response
Dame Debbie Crosbie, CEO of Nationwide Building Society, commented: “More and more young people and students are choosing Nationwide for their banking. We want to understand what’s important to them, so we can help them thrive at every stage of life. The concerns raised by young people in this year’s poll show that we need to keep our focus on building financial resilience and tackling the challenge of housing affordability.”
Nationwide, which has branches in Birmingham and across the UK, emphasized the need for continued support for young people's financial well-being.
