Former Yuppies ‘Struggling With Finances’
Topics: yuppies, struggling, with, finances, credit, problems, consolidation, cheap, loans, compare, secured, loan, uk
The young urban professionals of two decades ago are developing financial difficulties today, a new study has revealed.
According to research conducted by LV=, many of those people who are now aged between 45 and 55 - and were branded as yuppies during the 80s - are struggling to manage their money. The news comes as just under half of these people (45 per cent) admit that they are currently experiencing problems living within their means, which in turn could see them struggling to meet repayments on mortgages, utility bills and loans. In addition, just 15 per cent of consumers claim to have over 500,000 pounds in assets, including their property. Meanwhile, 46 per cent of respondents state they have less than 250,000 pounds in worldly possessions.
The majority (70 per cent) of former yuppies believe that they should have saved more money earlier on in their careers. The study also showed that about a third of consumers state that they would be worried as to how they would cope financially should their income stop unexpectedly. Some 35 per cent of yesterday’s yuppies, meanwhile, feel that they are currently earning less money than the average person within their age bracket.
Overall, a third (34 per cent) of such consumers view paying off debts, whether acquired through home loans or other means, as their main monetary objective. Meanwhile, saving for retirement and making repayments on mortgages account for 54 and 40 per cent of former yuppies’ financial aims respectively.
Commenting on the statistics, Nigel Snell, communications director of LV=, said: “Our research on yuppies has found that yesterday’s privileged minority appears to have become part of today’s anxious majority. Their concerns span not only their own financial and family commitments, but also the wider environmental and social agenda.
“Despite the champagne lifestyle and optimism of the time, our research reveals that many former high flyers have ended up no better off than the average midlife family. They are just as worried about meeting the monthly bills, the cost of bringing up their kids and how they will fund their old age.”
Mr Snell added that the upcoming generation of young professionals will not be able to rely on their family for help with money, as their parents are likely to be “equally financially stretched”. However, he pointed out that older people can “play a vital role” in encouraging their offspring to develop a good attitude towards savings, loans, debt and other monetary issues in the future.
For those struggling with their finances, no matter what their age is, it is wise to compare loans available to them then take out a low-rate loan as a means of paying numerous creditors quickly could help many consumers to reduce the pressure on their finances. A study carried out by the Alliance Trust Research Centre in September showed that the under-30s and people between the ages of 30 and 49 witnessed the highest increase in inflation costs during August, which in turn could impact their ability to meet demands on their money such as mortgages, utility bills and saving for retirement.
Mark Dawson writes for the Loan Arrangers. Where visitors can compare cheap loans online, and apply for debt consolidation loans, and secured loans at the best rates. Visit today www.loan-arrangers.co.uk
Previous Articles Highlighter:
Talking About Money Has 'Many Benefits' (1)
Topics: brit's, need, to, learn, to, talk, about, finances, loans, credit, secured, personal, loans, finance, bad, credit Many Britons are unwilling to talk about their finances, new figures show. In the Let's Talk About Money study released by the Motley Fool, two-thirds of consumers believe discussions about money, whether concerning personal loans and mortgages or credit cards and savings accounts, are a personal matter and as such should be kept private.
People Struggling With Debt 'Need To Recognise They Have A Problem' (2)
He said: "The first thing to do is to recognise that you have a problem and the second thing to do is to measure the size of that problem. You should work out what you earn and then, very honestly, write down what you spend." Mr Oakley pointed out that creating such a plan will allow many Britons to recognise how much of their money goes towards essentials such as rent, utility bills and loans, in addition to "semi-discretionary" expenses such as travel and food.
Are You Really A Real Estate Investor? (3)
This means that even if the values in a community tend to regress chances are that they will eventually recover. The investors that invest with the philosophy of focusing on the slow and steady growth in value are referred to as buy and hold investors.
Fall Noted In Exeter Bankruptcy Levels (4)
The news comes as research conducted by accounting and consulting firm KPMG indicates a drop in the proportion of people from the Devon city who are declaring themselves bankrupt, reports the Express & Echo.
Improving Credit With Credit Repair (5)
Paying off your debts will definitely improve your credit and financial situation. If you do not have the cash on hand you can always make a sacrifice for instance by selling off some of your belongings to speed up the paying process.
Locating Good Bankruptcy Lawyers (6)
Good bankruptcy lawyers will offer you good counsel in the matters of your money and property. They should help you to preserve your asset base as best as possible and protect your financial health.
How To Resolve Debt Disputes Quickly (7)
If this happens to you, there are some things that you can, but you must first know the law. First of all, all consumers must understand that they cannot legally remove or demand to have removed any negative information that is actually true and accurate.
Things To Know About Real Estate Business (8)
The real key for this striking the right deal; if you are dealing with the rich customers you should be able to tolerate their whims and the wildest fancies. At one point, they want to sell their property while at the other moment, they back up and here lies the true skill of convincing the customers for the real-estate professionals.
Financial Services Help In Managing Online Trading Strategies (9)
Investment professionals are very adept at managing the financial services offered by many trading companies in the world and know all about the requirements they place on people opening an online trading investment account.
What Is Term Life Insurance? (10)
One of them is through the use of "guaranteed re-insurability" programs that some companies offer. Another method might be through the use of an annual renewable term policy (ACT).
Foreclosure - How To Avoid Losing Your Home Through Foreclosure (11)
The initial mailings should provide information that will help you. The latter mailings may be legal action that you must be aware. Contact your State Government Housing office.
Creating A Trading Plan That Makes Sense (12)
People diving head first into the stock market without thinking through a solid investment plan often end up losing their life savings or even worse everything they have. In most of those cases, a diverse trading plan would have protected those investors.
Why Combined Risks Are The Very Best Type (13)
At a time when getting value for money from your service providers then making savings by getting a policy that is easier to administer could be just what you need.
Keeping DayCare And Nursery Costs Under Control (14)
A simply visit to a website or phone call could see massive insurance savings, expert advice and a fast and friendly service. Whilst other forms of insurance are very often only decided on price the benefit of using a nursery insurance expert is that you dont have to sacrifice quality for a lower premium.
Day Trading The Extreme Sport Of Investing (15)
An experienced day trader knows that sometimes they can't afford to wait for the stock to rise again, if the market fails to meet the expectations, quick thinking is needed in order to avoid higher losses.
Understanding Equity Investing And Dividends (16)
Dividends are payments that a company will make to shareholders when the company is making a profit. Normally a board of directors on a quarterly basis decides the dividends.
Pros And Cons Of Investing In Penny Stocks (17)
Since most of these stocks aren't in such great demand, an investor will have to lower his asking price in order to entice a bidder, oftentimes at a loss. Not every company that trades for "pennies" should be considered fraudulent.
Successfully Investing In Real Estate/Land (18)
The best way to get an appropriate rate is to consult a financial planner of real-estate. An agent will also be able to give an approximate rate of increase in future.
The Online Banking System (19)
There is no mystery why then, offline businesses employ the use of online banking systems since general business insists on easy, quickly moving exchanges. Because the average person can also freely engage in such wonderful practices, online banking has rendered walk in banking virtually obsolete.
Debt Consolidation Quote Tips And Considerations (20)
Enter information and get the debt consolidation quote and then compare this to several other companies to see of the results are comparable and realistic. After checking the track record of the companies with the best offers, it is usually fairly simple to decide which is best for you.
Newer Articles Highlighter:
Lessons In Options Trading Strategies - The 'Roll' (1)
In those rare cases, you will not want to 'roll' the position, because it might be called away if the call you sold is exercised when it becomes 'in the money.' When an option's expiration approaches, your short option can either be in-the-money or out-of-the-money.
Insulation Can Reduce Heating Bills 'For Years' (2)
Despite people being able to purchase insulation at any time of the year - whether through a homeowner loan or other means - the NIA executive suggested that the majority of consumers wait until temperatures drop before carrying out such work.
Top Golf Course Communities In America (3)
To begin with, the golf course must be one that is interesting to play. It needs to challenge the near pro-level player as well as offer opportunities for the novice to perfect his game.
The Cuban Economy: An Overview (4)
Energy efficient refrigerators and television sets have been distributed and would be installed in all the thousands of housing units that the government is building. Energy efficient buses from China would soon be available for the Cuban public transport.
Residing In The Top Golf Course Communities In America (5)
These communities often will feature the concept of "communities within communities" so that seniors and single adults can select housing units that are separate from noisy children's playgrounds. Families can select golfing course communities that have planned neighborhood social events or activities as well as facilities where children are welcome and safe.
Spouses Debt Is Your Debt (6)
Because of this, you would most likely both want to file for bankruptcy. If only one spouse files, then the debt is still owed by the person who did not file.
Best Schools In Houston For Quality Education (7)
However, this ratio is not the only factor that goes to determining the best schools in Houston for your family. Due consideration must also be given to the interests of the child and what the emphasis of the curriculum is for any particular school.
Getting Insurance Can Be Tricky (8)
There are certain aspects of financial insurance that must be taken into consideration if you want to have rates that are not too high. Probably the number one thing to remember with car insurance is the fact that you might have some car loans that demand many big payments from you.
New Homes In Houston-Houston Custom Home Builders (9)
Since new developments are available in all price ranges and styles, you should be able to find just the right house at a price within your budget range. When you bring together outstanding home builders, exemplary Fort Bend schools, century-old trees and tons of recreational amenities, you've got Sienna Plantation.
You Have Rights When It Comes To Collection Agencies (10)
A collection agency is not prohibited to call people you know that might have information about you. However, they are only allowed to ask for your address and telephone number.
Hot Texas County-Ft. Bend County New Homes (11)
Bend County new homes are being constructed at record rates because the County itself is growing rapidly. Fort Bend County contains major population centers of Sugar Land (the largest city), Richmond (the county seat), Arcola, Needville, Fulshear, Meadows Place, and Rosenberg.
Should You Fear A Law Suit From Collections? (12)
On behalf of your creditors, they are obligated to call you and inquire of you the money that you owe, that is past due. Still, there are several things that the collection agencies are not allowed to do because they violate the laws that protect the credit holder's rights dealing with credit agencies.
Losing Your House Over Credit Card Debt (13)
Because you are living in a home that you are still paying for and is therefore not yours, at least not yet, you know that you are at some risk of foreclosure.
Types Of Investing In Real Estate And Land (14)
The investment is a kind of joint ownership in this investment group. The vacation rental property is another type of real estate investment where the investor gets regular income from the rent of the property.
How To Use A Home Equity Loan Intelligently (15)
By looking around you will quickly see what is possible, and which ones just don't compare with the others. You also want to leave at least 20% of the value of your home untouched - or you will need to pay private mortgage insurance.
Ways To Become A Successful Real Estate Agent (16)
Training is provided on transfer of ownership, laws on real estate and math during the duration of the course. The tips and tricks of real-estate are taught during the course.
Stocks Are Like Baseball Cards (17)
Topics: Stock, stocks, market, trading, shares, shareholder, baseball Who sets the price of stocks and baseball cards? You do! Actually, it is a complex combination of countless factors, but basically the prices are set as high as someone is willing to pay.
All About Fixed Mortgage (18)
The success or failure of the market will largely determine whether or not you will save money in the end. Court helps people to learn about loans. You can read more of his work by visiting: whalehookloans.com.
Losing Money On The Bourse? Try Forex Instead (19)
You will log on and create an account. Entering information about what you are interested in and what you want to do. The 'game' will allow you to make purchases and trades, involving different currencies, so you can then see first hand what a gain or loss will be like.
Do Your Research To Find Low Cost Car Insurance (20)
The only way to ensure you're getting the best deal possible is to research each company. First, make a list of each company and then list their phone number.