Nine Ways the Budget Could Affect You If You’re Under 25
The recent Budget announcement brings notable changes that could impact young people significantly.
Minimum Wage Increases
Young workers, particularly those aged 18–20, will see their pay rise to £10.85, boosting financial independence.
Student Loan Developments
With the student loan repayment threshold frozen, future earnings may cause higher monthly repayments.
Rent and Employment
Proposed tax hikes on rental income may lead to increased rent. Meanwhile, £1.5 billion is earmarked to support job training for those under 25, aiming to reduce unemployment.
Stay informed on how these changes affect your financial landscape.