Tuesday, March 26, 2019

Mar 12 18, 11:22 pm

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SURVEY: The most expensive age in a person’s life revealed!

by | Feature

Mar. 12, 18 | 11:22 pm

According to a survey conducted by a British credit checking firm, ClearScore, the most expensive year of a person’s life age 31.

The survey revealed that a person would need as much as P3.1 million (Dh218,000) just to be able to afford wedding, honeymoon, have a baby, and buy his own home.

With this data, it would take an average Filipino employee 12 years to save this amount since the average family income in 2015 in the Philippine is estimated at only P22,000 per month, as per the Philippine Statistics Authority.

ClearScore surveyed 3,000 people and found that the biggest expenses at age 31 are getting married (27%), buying a house (25%), having a baby (20%), and paying for a honeymoon (14%).

About 60% of the respondents had savings to pay for everything, while 33% of 25 to 34 year olds still rely on their parents for financial support. Just 14% of people over age 55 said their parents helped them financially.

The survey also found out that 30-something people have future financial worries, including saving for retirement, saving money at all, and having enough financial stability to support children.

“Many of life’s big milestones tend to happen very close together so we weren’t shocked to discover how much people were spending during their most expensive year,” said Justin Basini, the chief executive of ClearScore.

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THE FILIPINO TIMES is the biggest and most trusted Filipino newspaper in the UAE.

It has a print run of 60,000 copies and 250,000 readership per week; bolstered by 1 million visitors to its website every month. It also has an e-newsletter sent to its 250,000 subscribers every day.

The Filipino Times is FREE and has the widest targeted circulation across the 7 emirates of the UAE.

With more than 2,500 strategic distribution spots, TFT is available where the Filipinos are - at Smart Bus Shelters, Metro Stations, restaurants, supermarkets, schools, airport lounges, Emirates and Etihad Philippine-bound flights, churches, Filipino community events and many more.

THE FILIPINO TIMES. We are where the Filipinos are.

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