Skip to comments.Life 'gets costly at 34'
Posted on 08/17/2006 10:30:19 AM PDT by qam1
A person faces the most expensive year of their life when they reach the age of 34, new research has found.
The cost of buying a home and carrying out home improvements on it represent the biggest sources of expense for thirty somethings, according to the poll for Axa Wealth Management.
Purchasing cars, paying for weddings and meeting the cost of taking care of new babies adds to their financial pressures, with average spending hitting £32,441 at the peak age of 34, when people's expenses were found to be at their highest level.
As well as identifying the average age at which people from various generations felt the most financial strain, the survey of almost 2,000 people, carried out by market research group TNS, also examined the most expensive years within different age bands.
Those aged between 25 and 34, representing the youngest age group, said that 26 was their most expensive year, when spending on cars, holidays and honeymoons ate up more of their cash than at any other time.
Meanwhile those within the 55 to 64 year age range said their living costs peaked at 43 due to the price of property, the expense of home improvements and the cost of putting their children through university.
Commenting, Axa spokesman Colin Nelson said: "While 34 was on average the most expensive year in life for all Britons, this study demonstrates that people of all ages face peaks in outgoings which see them having to cope with major expense at different times in their lives."
Interesting, I bought my first house at 33.
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Mine @ 32. Interesting.
Did someone just pick an age out of thin air? I bought my first house when I was 19 years old. The most expensive years are when all the kids are in college.
At 34, I had twins, and they both almost died. Most expensive and worst year of my life!!!!
In other words, this study shows that different things happen to different people, at different times.
I never knew that!
At 34 I enlisted in the navy. I didn't spend a dime. Uncle Sam took care of everything!
Sweet! I turn 35 next week. I guess I made it over the hump and it's all downhill from here.
Bought a house at 32...first child born when I was 33...fascinating.
Bought my vacation property at 33.
Didn't get married until 37. Each year since then has been more expensive than the last.
Isn't that about the age the metrosexuals move back in with their parents?
I had my first daughter and bought my first home when I turned 34.
Bought my 1st house at 31.........but 28 was more expensive, when I got divorced. He expected me to pay of the equity line on HIS house. My lawyer was good, but expensive.
I think it is all relative. I'll be 46 next month, my husband is 51 (Yes, we are among those evil boomers)..we moved to another state 3 years ago, I stopped working to be a full time mom to our now 8 year old.......so for me 40something is far more expensive than previous ages.....
Wow...blessings to you and the twins!
I may ask around. I think a number of them got divorced before then. And some are paying allimony for a few more years.
First and only house at 32 but admittedly it was on my husband's salary because I stay home with our boys. Now I'm 35 and things just seem to get more expensive as the years and responsibilities roll along.
What about end of life health costs?
Hate to tell you this, but you're exactly right. sigh
Got married at 32, just bought my first awesome house at 34 and hope to have my first rugrat at 35. I'm a little later than everyone else, it just took me a bit longer to find the right woman.
"Sweet! I turn 35 next week. I guess I made it over the hump and it's all downhill from here."
Actually, at 35 you will GROW the hump (either belly or butt, gender dependent of course). It is all downhill only after you have the hump . And since you now have the hump, downhill is even faster because you're more round!
I concur with the article, but I can't complain at all. The kids are worth it!
That's true. The other night I came across my old Army dress jacket. It wasn't just tight...I couldn't even put it on!
Bah, I bought my first house when I was 22, and when I was 34 it was the first time in about 8 years that I didn't own more than one house.
It's the children that have gotten more expensive.
My first baby (20); first car payment(30; up until this time we bought with cash); first house, 30). I am hoping by age 34 things will be a little less.
Bought my first house at 30, half my life ago. And yeah, my expenses vs. income ratio has improved exponentially during that time.
On the other hand, you're more stable going downhill because your center of gravity is lower... ;)
Not getting married.
Not having kids.
Not buying "lots of stuff".
I'm really well off. My yearly expenses are $18,000 (including mortgage). My yearly taxes are around $45,000 for state/federal income and Mediscare/Social Insecurity. The government takes from me 2.5 times what I spend on myself. I hate taxes.
Oh, and next June is 34 for me.
Interesting. Around that age, a few years ago, I had 2 car accidents (neither my fault), and took a cut in pay. Costly indeed, I'm still trying to catch up.
And the one right after the divorce, spending all the money in the strip bars, and on ball games, LOL.
Yeah, especially when Mom and Dad finally throw you out.
Pissing contest? I bought my first at 28... sold it at 31... bought my second at 31 and my 3 at 32.... Not bankrupt yet.... How far can you pee?
I can't remember what I did when I was 34. It would take me a bit of time to figure the town I was living in at the time...
Sad thing is, I'm only 38.
I don't have the stuff or chillins, but I have a husband. So far, he's worth more than he costs, but barely. :-)
Nuh-uh! She's at a great age. And she hasn't hit her fifties yet! Everyone says that's the best.
My husband was over 40 when we got married..........so you're not as late as you think.......our daughter is 8, I'll be 46 next month and hubby is 51.
Aren't you a friend, indeed!!!!
The hubby isn't having a problem with being over 50.......except for the knees.....but that's from more than 25 years of beating up and down ladders...so you can all can your dirty thoughts :)
Me, I'm tired all the time..........of course I'm the one chasing after the 8yo all day ........LOL But I'll get even - that 8 yo and her 8yo friend down the road have a strawberry patch and 2 raspberry patches that nee to be weeded before school starts the day after Labor day........
Those girls will understand what tired means.............
First House at 32 for me too,
We have been married for over 19 Years and our daughter is also 8 Years of age.
We had her when I was 41 and my wife 31 due to wife's engine malfunction, so I guess we can be called late bloomers!
Let me tell you something...this little girl and her friends are keeping me young and on my toes.
At times I am telling my wife that I am too old for their games and she snaps back at me saying that I can not feel old because I have a young daughter, and I should get my butt in the game and keep it up!
So, I gave up smoking, cut on drinking, put my seat belt on while driving and started to watch my diet.
Bottom line is that the kids(at least mine)can accomplish more so than anything else to change your old habits.
"a person faces the most expensive moment of their life when they ...." Who are THEY??? A person is NOT a THEY. Fer Crissakes...stop this P.C. grammatical crap NOW!!!!!!!
My life just keeps getting expensiver and expensiver. I wish it was the same as 34.
We have similar yearage, hubby and I have been together over 18 years........I disagree with you though, the child is making me old, keeping my husband young, but making me old.........
BUT.......I wouldn't trade it for anything!!!!!
I have no clue where the time went.............she was in my arms and totally reliant on me just yesterday.........but today I had to go outside 1/2 a dozen times to figure out where she was.........
As to the other stuff, I was taught to wear a seatbelt when driving, so it' not a big deal to me, it was to the husband, but he now does it without a second thought........
Smoking and drinking..........nope, we haven't stopped either of those habits...........we have just curtailed the where and when.
I bought my second home at 33 and it has been the most expensive year of my life thus far. Certainly hope it doesn't get any costlier from here on out. :-(
You evil boomer you.
You ain't nothin but a pup! ;^)
But then again, it ain't how old you are, it's the way you handle it.
And I got to say, you handle it well.
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