You are here: Home - Uncategorized -

Golden oldies

0
Written by:
17/03/2006

Older Brits are more than happy to celebrate each birthday in style. Christina Jordan reports

Older Brits are throwing caution to the wind, embracing growing older and are ready and willing to party. According to research from financial services provider MINT, more than three-quarters, (77%) of the nation celebrate their birthday and we spend an annual total of £1.6 billion in the process.

Two thirds (67%) of the over 50s age group mark a milestone with a celebration, no matter how small. Meanwhile, 30 – once considered a dreaded turning point in adulthood – has been embraced with more than a quarter of people (28%) stating leaving their 20s as reason enough to push the boat out.

One-fifth (22%) of Britain’s birthday boys and girls chose to celebrate their last big birthday with a party. A similar amount (18%) marked the occasion with a holiday, be this a shopping trip to New York City, extended holiday with friends or a romantic getaway with their partner.

Across the country, one in 5 (20%) people spending up to £50 or more on their own celebrations. But despite self-indulgences, the UK is not so generous when it comes to birthday presents for nearest and dearest – the average amount of money spent on own birthdays is £47.77, over 55% more than that spent on a close friend or relative – only £30.69.

Jerry Toher, Managing Director of MINT comments, “In our survey, close to a third of people, (31%) said they used their birthday as an excuse to celebrate and it’s clear they’re looking for something more than a cake and a few candles these days. But far from being extravagant in their spending, people are planning months rather than days in advance. In doing so, they are carefully managing short term expenditure over a period of time using means, such as credit cards, to do this.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Fuel prices keeping motorists off the road

Rising petrol prices led to a third of all UK motorists cutting back on their car journeys last year, a...

Close