Millions of young British consumers are feeling stressed out about their debt problems, according to recent research.

A study by the charity groups YouthNet and Citizens Advice found that money-related mental health issues are affecting close to one-quarter of people aged between 16 and 24 across the country.

For one in five of the young Britons polled their efforts in financial management left them crossing their fingers and hoping that they had some money left at the end of the month.

In addition, a majority said that they had been encouraged to borrow more than they wanted or could afford to do and 47 per cent admitted that they had suffered with some sort of debt problem.

Around 95 per cent of young people with debt problems turn to their parents for help or advice, while 67 per cent go online in search of useful financial information.

A report released earlier this year by the Rainer charity group concluded that debt problems are "endemic" among teenage Britons.