Some 90% of young people have been in debt by the time they turn 21, a youth charity has announced.

Rainer, based in Kent, is calling for more financial education for young people after almost half of the 18 to 24-year-olds surveyed said they had owed more than £2,000 and one in five had been more than £10,000 in debt.

The charity said the YouGov survey that polled 4,000 young people raised concerns about those who are surviving on low incomes. It showed they tended to borrow from family and friends or use stores cards and catalogues, and could not afford to repay what they owed. A large number also owed money on rent and had unpaid bills.

More than a third of those who had borrowed from their families said the debts had caused a serious problem in their relationships.

Rainer chief executive, Joyce Moseley, said that debt can lead to depression and anxiety, particularly for those who are experiencing difficulties in other areas of their lives.

Ms Moseley said poverty and a lack of financial skills were two of the underlying causes of debt amongst young people.

"Interviews with our young people showed that more than a third of them are left with less than £5 a week after debt repayments, bills and living costs and one in five are left with nothing at all. One unexpected expense can see their debts spiralling out of control and this has a devastating impact on their lives," she said.

Rainer is calling for a significant investment in financial education for young people such as understanding interest rates.

The charity also wants measures that help lift children and the elderly out of poverty extended to young adults in need.

Rainer offers support to more than 18,000 young people and adults including those who are at risk of family breakdown, in or leaving care, caught up in the criminal justice system, homeless, or outside education, training or employment.