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Young people are being forced into debt, a personal finance expert has claimed.

Anne Young, savings expert at Scottish Widows, suggested that through student debt and a ready availability of credit, many young people enter their working lives with a considerable level of borrowing hanging over them.

"Debt is too easily available now – you spend up to the limit on your credit card and then you just get another one," she warned.

Furthermore, it is likely that people will have more issues with owing money in the future as fixed-rate mortgage deals end and the credit crunch has limited the lending on offer, Ms Young concluded.

Recently, research conducted by financial comparison website moneysupermarket.com revealed that 30 per cent of Britons are frightened that they will be unable to continue to manage financially following the recent Budget.

Tim Moss, head of loans and debt at the website, warned that British consumers owe more than £1.3 trillion through loans, credit cards and overdrafts and their ability to manage such commitments is fast declining.

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