Business
The evidence that shows today’s 20-somethings really do have it worse
Rachel Diamond, 23, moved from her family home in Oldham to Portsmouth to follow her dream job as a graduate engineer. She earns in the early £30,000s and says: “I was quite lucky when I got my job straight after uni. So I’ve kind of done everything right, but still I’m not saving any money from my paycheck, like months and months, just because it’s so expensive with renting and bills. I don’t think people realise how expensive it is to rent.
“That’s the thing, like council tax, you only get 25% discount, so that’s expensive on my own. Again, that’s a choice, living on my own, but still.”
Rachel’s dad Paddy says: “When I started out in work I was in a similar situation to Rachel. I moved away from home and I lived on my own because I didn’t know anybody where I was moving to, and certainly it was hard for me, and it seems to be, equally as hard, if not, well, probably harder for Rachel.
“I bought my first flat when I was in my early 20s. I was earning £20,000 a year and my first flat was £36,000.”
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