Financial good life ‘starts at 40’

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Published: Sunday 22nd February 2015 by The News Editor

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The prospect of reaching the big 4-0 may bring mixed feelings for some people, but according to new research it is the age when people can finally start to feel financially secure.

The study, for VoucherCodes.co.uk, found that 40 is the typical age when people have grown contented with their bank balance.

Asked what would make them feel financially comfortable, being debt-free was the most popular response given in the survey of 2,000 people, followed by owning their own home, setting aside some savings each month and enjoying a yearly holiday.

Those surveyed typically said they would need to earn £40,905 before feeling satisfied, which the research said is £13,634 more than the average UK annual salary of £27,271.

Men claimed to need substantially more spare cash each month to feel financially secure, with males striving to have £1,780 left after spending on essentials compared to the £1,307 women desire.

People living in London also tended to aspire to have higher cash amounts left over each month to spend on themselves, saying they would like to have £2,151 on average.

At the other end of the spectrum, people living in Wales typically desired smaller amounts and would be content with £1,229 a month to spend on themselves, according to the findings.

Here are the most popular answers people gave when asked by the VoucherCodes study what would make them feel satisfied financially:

1. Being debt-free

2. Owning a house

3. Setting aside some savings each month

4. Jetting away on holiday at least once a year

5. Treating friends and family

6. Dining out once a week

7. Weekly post-work drinks at the pub

8. Working a job for enjoyment rather than money

9. Owning the latest tech gadgets

10. Driving an expensive car

Published: Sunday 22nd February 2015 by The News Editor

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