Many young people are getting into debt because they have not learned to live within their means, an expert has said.
Yvonne Goodwin of Yvonne Goodwin Asset Management said recent research showing a lot of youngsters are relying on their parents financially is due in no small part to a lack of education on how to handle credit and budget better.
She explained: "It is very tempting when they see something they want to buy, they get a credit card which has got credit on it and they buy what they want without thinking about how they are going to repay it."
Ms Goodwin noted that some parents simply agree to pay off such debts for their children, while others will do so but insist they in turn are paid this money back over time.
The expert said this second way is the best one as it does teach children to be more responsible when it comes to budgeting, spending and borrowing.
Overall, however, she observed that younger people "aren't learning to live within their means," despite the rising cost of living making this important.
For some young people, debt help may be needed as not all parents will be in a position to help out financially, with some struggling with unemployment low pay themselves.
And taking such action may help adult children to become more financially independent and learn not to rely on the generosity of others.
The comments come after a survey by Lloyds TSB showed that the number of young adults relying on their parents for financial help has soared since the 1980s.
It revealed that 80 per cent are in some way dependent now, compared with only 61 per cent in the 1980s.
Some of this is due to higher costs such as deposits to get on the property ladder.
By Joe White