Purpose The purpose of this study is to explore the ways in which the cost-of-living crisis affected emotional support access and availability among multiply-marginalised UK-based youth. Design/methodology/approach This study reports findings from early stages of a multiphase youth participatory action research (YPAR) project. In all, 12 young residents of Tower Hamlets London (ages 16–22 years) employed as peer researchers conducted 14 focus groups with 44 residents of Tower Hamlets over a six-month period. Data were analysed using principles of reflective thematic analysis. Findings Analyses produced salient themes that identified barriers to obtaining emotional support from parents and carers, described the utility of diverse support networks and elucidated the impact of the cost-of-living crisis on emotional support and youth well-being. Research limitations/implications This study has several limitations pertaining primarily to study design, sample size and sample composition that limit generalizability of findings. The findings indicate that the cost-of-living crisis markedly constrained the participants’ access to and availability of formal and informal support from others. Practical implications The findings from this research will influence the design and delivery of policy and services to better meet the needs and experiences of UK-based young people and their families. Social implications This project has the potential to increase understanding of how families can provide effective emotional support to young people and so improve the lives of Londoners now and in the future. Originality/value To the best of the authors’ study, this study is the first to use a YPAR approach to exploring the impact of the cost-of-living crisis on UK-based youth.