The number of people struggling with money in Britain is at a record high. Financial charities say that people are contacting them for help with debt, paying bills and insolvency. The campaign group Debt Justice found in a survey that 29% of 18- to 24-year-olds and 25% of 25- to 34-year-olds had missed three or more bill payments in the last six months.

A majority (65%) of people don’t think they can survive on their savings for three months without borrowing money. Statistics from the UK’s financial markets regulator show that more than one-third of UK adults have less than £1,000 in savings. And a survey by Money.co.uk found that 30% of Brits aged 25-64 do not save at all for retirement.

With figures like that, is it any wonder that 75% of people in the UK feel anxious about money?

The current state of the economy is particularly scary for young people. Unless you were born with a trust fund (not most people), you are likely part of the first generation to be financially worse off than your parents. Retirement seems like an impossibility, and you’re unlikely to own your own home. Eighty percent of people in their early 20s worry about not earning enough.

It is important to start planning for your financial future early in your career, but you may find it overwhelming. The good news is, there are ways to overcome this.

As a psychotherapist and finance researcher, I work with........

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