Compare Credit Cards with CardSmart

Home » Credit Card News » Spending Money » Fifties are 'most expensive period' for Brits

Fifties are 'most expensive period' for Brits

The average 50-something will need a minimum monthly income of £1,560 to cover all their costs, says report

More from Spending Money
21 February 2012

Fifties are 'most expensive period' for Brits”

Bookmarks

Britons in their 50s are generally facing the most expensive period of their lifetimes, according to new research.

Health and wellbeing mutual Benenden Healthcare has published a new report which shows that those in their 50s are faced with a number of drains of their finances including mortgage payments, supporting teenage children and large holidaying costs.

In order to cover all these costs, the average 50-something will need a minimum income of £1,560 a month.

Marc Bell, marketing and business strategy director at Benenden Healthcare, said: "Reaching 50 is traditionally supposed to be the start of a new lease on life as kids grow older and couples find more time to themselves.

"The stark reality will prove an eye-opener as 50-somethings realise the truth is not so rose-tinted."

Mr Bell added that those in their 50s are also more likely to provide financial support to family members and loved ones, proving it is also the time Brits are at their most generous.

Posted by Jack Ramsey

Written by ©

Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
Compare More Credit Cards...

The content and information on this website are intended as general information only and shall not be construed as financial advice or recommendations of any nature in accordance with the Financial Services and Markets Act 2000 nor is it intended to address specific financial requirements. Read more... We strongly recommend that you seek independent financial advice before using and/or relying on the information made available to you or prior to purchasing any financial product/service listed on the Website. Whilst every attempt has been made to ensure that the content and information published are true, correct and up to date, no warranty, guarantee or representation is given as to its accuracy, reliability or fitness for a specific purpose.

The Best Buy credit card comparison tables feature financial products/services of our advertisers and may not necessarily constitute the best offers in the market for each of such products/services.