"What is my future?" ': Millennials and Gen Z are grappling with the cost of living crisis

Like many people across the UK, 26-year-old Luke Downham has found himself living hand to mouth as the cost of living crisis intensifies.

During the pandemic, he was able to save money and pay off his student debt. Moving to Manchester in 2021, he started a new job as a biomedical scientist for the NHS with the belief that life was getting better.

But while the inflation hits 40-year high, Downham's rent is expected to rise 10% this month. He has since taken out a consolidation loan to pay off his growing debts. He said it was hard to live each month waiting to get paid.

"It's quite depressing because I'm just starting my life. . I feel a little taken aback,” Downham said. "I feel like my friends and family are all in a similar situation. This world is not sustainable."

The trend of Britons in precarious positions has worsened in recent months as the rising cost of living puts a strain on the level of lives, with the lowest paid and most vulnerable suffering the most.

Gen Z and Millennials, facing inflation for the first time, are also vulnerable to the crisis.