Between April 2010 and March 2011 Citizens Advice Bureaux across England and Wales dealt with over 700,000 problems from people under the age of 25.
It says enquiries from under 25s about housing issues have risen 14% compared with 2009/10; enquiries about benefits are up 8%; while enquiries on debt and employment have remained static.
Citizens Advice chief executive Gillian Guy said: "With nearly a million 16-24 year olds unemployed, it's no surprise that so many young people are coming to Citizens Advice for practical help and advice. This group are finding it particularly hard at the moment, and we're seeing their money worries starting to develop into real housing problems and even homelessness.
"Across hundreds of our local bureaux, we are helping young people stay on top of their bills, pay rent and keep track of changes to local services. A big problem here is that so few young people realise they can often get financial support, such as Housing Benefit.
"While it can be daunting to seek advice, our work shows that the sooner you tackle a problem, the easier it is to put right."
Privately rented property was the biggest housing issue that young people sought advice for in 2010/11, with over 26,000 problems reported - up 10% compared to 2009/10.
CAB dealt with over 10,000 problems from under 25s about threatened homelessness last year, up 16%, and over 6,000 problems about actual homelessness, up 25%.
