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."
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.