People in their 40s are the most skint

29 May 2014

People in their 40s – married-with-children-profile browbeaten by kids and constant trips to Asda to buy trampolines and large amounts of breakfast cereal – are most likely to feel the financial squeeze.

So says Halifax’s Money Attitudes survey, which found that people struggling along with young families and an increasingly dim sense of their place in the world are most likely to have run out of money before pay day.

53% of this demographic were skint at the end of the month, compared to 43% in other age groups.

Pressured 40somethings were also least likely to have their finances organised, probably because they were too busy trying to tweet something funny while a child tugged at their arm yelling ‘I WANT A POO!’. They also admitted that they didn’t pay their bills on time, and the idea of a savings account was laughable.

The survey of 2000 people wasn’t all doom and gloom, though. More than a fifth of people said their finances had improved since 2013.

Anthony Warrington of the Halifax said: ‘While there has been an improvement in people's finances overall, those in their 40s are most likely to still be feeling the squeeze.

People in their 40s face a wide range of demands on their finances, often juggling the cost of supporting children, with paying a mortgage, and trying to save for their own future.

This research highlights that although the outlook looks brighter overall, the recovery is not evenly spread.’

Yeah, great. *gazes into moth eaten purse*

TOPICS:   Banking   Investments   Utilities   UK News   Home

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