Young people are more stressed about money than about anything else but most adopt an "ostrich approach", research has claimed.

Just under a third of 16 to 24-year-olds say money is their biggest cause of stress, compared with 24 per cent who say relationships are most stressful and the same proportion who say work is their biggest worry.

Being in the red is the main problem, with 26 per cent of people saying they find being overdrawn stressful, while 21 per cent are worried about not being able to pay bills and one in five are concerned about their lack of savings, according to Nationwide Building Society.

About 16 per cent of young people say the thought of having to pay off their credit card makes them stressed, although just four per cent claim to be worried about saving for retirement.

But despite citing money worries as their biggest cause of stress, most young people are failing to act to alleviate their problems.

One in five people aged under 25 say they avoid reviewing their finances, while less than 20 per cent have arranged an authorised overdraft in case they go into the red.

Around 18 per cent say they are putting off arranging a pension and just seven per cent are planning financially for having children.

Thursday October 30, 2003