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.
Ping list for the discussion of the politics and social (and sometimes nostalgic) aspects that directly effects Generation Reagan / Generation-X (Those born from 1965-1981) including all the spending previous generations (i.e. The Baby Boomers) are doing that Gen-X and Y will end up paying for.
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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?
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