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The Young Scot programme has set up a new portal where young people can access money-saving opportunities, financial information, and tips on looking after their mental health all in one place.

This new information hub follows research conducted by Young Scot that reveals that 91% of young people have already been impacted by the recent cost of living increases.

Key financial information and support will be available from the hub, which aims to be a one-stop-shop for young people in Scotland struggling with the cost of living crisis.

The Hub will be updated throughout the cost of living crisis to keep young people up to date with coping strategies and budgeting tips, so far information on the site includes:

Tips on saving money and how to access the hundreds of in-person and online Young Scot discounts - such as money off exercise classes, cinema tickets, food shopping at Scotmid and the Co-op, and more.

How to get free bus travel for under 22-year-olds and cheaper transport on trains and ferries.

Support for young people who might be worried about the rapidly increasing cost of living – with links to Young Scot’s #AyeFeel mental health and emotional wellbeing resources.

Information for young people about managing money, debt, and budgeting for the future, in partnership with The Money and Pensions Service.

Information on eligible benefits and how to make a claim.

Young Scot surveyed over 400 young people (12 to 25-year-olds) in Scotland about their experience of saving, budgeting and spending money.

As part of the research, a young person said to Young Scot: “The cost of living crisis has very much impacted me as I live in an already struggling household where money is a major worry. My sister has had to help pay any bills with the money she gets from university.”

The programme will support young people in Scotland with personal finance tips

Almost a third of the young people surveyed stated that the increases in the cost of things such as gas and electricity bills and food had impacted them to a great extent – with 54 people stating it had impacted on their lives completely.

Kirsten Urquhart, Chief Executive of Young Scot said: “Young people are already sharing with us their concerns and questions about the cost crisis – along with a desire to play their part in supporting households during this time.

“The importance of young people’s emotional wellbeing and mental health, along with recognising the ability to live well and have fun, is also of paramount importance.

“As Scotland’s national youth information charity – we are providing quality-assured information for young people that helps to address their concerns.

“We’re sharing this using on our dedicated information hub and via our TikTok and Instagram channels.”

Young Scot launch programme of support amidst cost of living crisis

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