Life most costly for 34-year-olds
Sep 30, 2006
Turning 34 may seem like a fairly unremarkable event, but it is the start of the most expensive year of an adult's life, new research suggests.
The poll from Axa Wealth Management which asked Brits which year they thought was the most costly, found that 34-year-olds paid out an extra £32,441 on average that year on expenses such as buying a home and paying for children.
This was found to be the year when most people bought their first property, with other expenses such as home improvements and running a car also adding to financial pressures for this age group.
However, periods of financial pressure are faced by people in all age groups, with many Britons choosing to manage their finances with a personal loan during more stretching times.
Although the poll found that 34 was thought to be the most expensive year on average, 25 to 34-year-olds voted 26 as their most expensive year, while 55 to 64-year-olds thought 43 was the most costly.
34 is on average the most expensive year to live through for all Britons, and research suggests that people of all ages face peaks and troughs in outgoings which see them having to cope with major expenses at varying times during their lives, a representative of Axa commented.
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