Gen Z and Millennials struggle most with bills and need help to pay flexibly

Young people are struggling the most with their household bills.

That was one finding from research into water affordability by billing platform Aptumo. Half of Gen Z (16-25) and millennial (26-34) respondents said they had had difficulty paying bills over the past 12 months, compared to one-third of 35-54 year olds, 20% of 54-64 year olds and 10% of the over 65s. Young people tend to have lower salaries and less financial security.

Customer service director at Echo Managed Services, Rachael Merrell, commented: “Young people are disproportionately impacted and as a result are struggling to keep on top of their household bills. All service providers, including water companies, have a responsibility to support their customers through this period.

“For some young people, budgeting and paying bills could be a new experience as they move out of the family home and become financially independent. As they take their first steps towards independent living and registering as a named bill payer, water companies should consider how new generations of bill payers can be reached, and how best to support them. For example, what channels are preferred for communication and payment of bills.

“Water companies can also work with customers to discuss different payment options which can help to establish good budgeting habits which they may not have learnt as part of their formal education. Offering more options on frequency of payment and payment dates could help customers to better match bill payments with their income patterns.”