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Does money become less important to us as we get older? It seems so.
A new survey by Experian has suggested that money becomes less important to us the older we get. The same research also found that men are more likely than women to believe that money is the most important aspect of their life.
The survey of more than 3800 Britons aimed to discover people’s thoughts about money and whether attitudes towards money change as you get older. 29% of people surveyed agreed with the statement; “Money is the most important thing in my life”.
16 to 24 year old were the group who believed that money was the important thing in their life, with 43% of them agreeing with that statement. In comparison, only 17% of over 55’s considered this statement to be true for them.
The difference in the thoughts of the opposing genders was highlighted too, as 34% of men agreed with the statement compared with 25% of women. Why there is such a big difference in the opinions of men and women, we are not completely sure as this was not explained in the findings but it may be something to do with the breadwinner attitude most men still have.
After the initial findings, those surveyed were asked about what concerned them when it came to having a more fulfilled life. 58% people said their financial situation was the most important issue for them and this made finances the most decisive factor for a fulfilled life.
Following finances, 53% of people mentioned their health, 34% were concerned with their career, just under 28% mentioned love and relationships and 23% wanted to learn something new. These findings have uncovered our thoughts about money and how a majority of the population feel that having plenty of money would make their life better or easier.
The findings also seem to indicate that we learn from our past money mistakes and as a result we handle our finances better as we get older. As those under 35 are the ones most likely to be struggling to manage their money and would be happier if they could get a better grasp of their finances, it is the over 55’s who feel more content with their money situation.
These are findings that may not surprise some as we can see in society that today’s under 35’s are struggling financially. However, there may be some solace to be found as hopefully in 20-30 years’ time some of these people will be less worried about their money and it may become less of an importance to them.