UK Wedding News
02/10/2014
A further one in 10 admitted they could never afford to marry.
Elsewhere, the report, released by SCM Direct, an investment company, also found that one in seven 35 to 44-year-olds have, or would, delay starting a family for at least five years. A quarter of that age group, had admitted to doing so for two years, because they could not afford it.
For one in 12, they confessed that they would never be able to afford children.
Commenting on the findings, the SCM Direct said it showed the extent as to which "financial constraints are directly impacting on matters of the heart".
The report added: "We believe the impact of this delay is seismic, not just on a personal level for those who have hit the pause button, but on a wider level.
"What would be the societal and economic impact if the age that couples started families shifted to the late 30s and mid-40s, with couples in Generation Pause increasingly postponing having children?
"What will be the impact on the housing market if we move to a nation of renters rather than buyers, or to a model in which people cant afford to get their first foot on the ladder until middle age?"
For the study, more than 3,000 people, aged between 18 and 85, were asked if they had, or would consider, delaying key milestones in their life, such as getting married or having children, because of financial constraints.
The poll, conducted by Research Plus, revealed a large number of those aged from 25 to 54 had taken such steps.
Known as the "Generation Pause", almost half of the age group admitted they would have to delay their original retirement plans due to a lack of savings, while a third said they were relying on family inheritance to fund their future plans.
However, when it comes to saving money, half of women said they had less than £1,000 in savings. This compares to less than a third of men.
One in five women said they had savings of more than £20,000, compared to more than a third of men. Spending is an issue with the "Generation Pause" though, as they said they spend four times as much on holidays as they do in investing in pensions or savings.
Gina Miller, of SCM Direct, said: "We are reaching a crossroad. Life ambitions that were once taken to be a given marriage, children, buying a property or retiring are no longer seen as achievable by a significant portion because feelings of financial security and stability are at an all-time low.
"We believe that the UK is heading for a crisis. Britain one of the most wealthy countries in the world now has a generation of 25 to 54-year-olds in which only one in six is confident that what they are currently saving will be enough to cover their future plans."
(JP/IT)
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One In Five Postpone Getting Married
A new survey has revealed that one in five 25 to 34-year-olds have, or will be, postponing their wedding for at least two years due to financial concerns.A further one in 10 admitted they could never afford to marry.
Elsewhere, the report, released by SCM Direct, an investment company, also found that one in seven 35 to 44-year-olds have, or would, delay starting a family for at least five years. A quarter of that age group, had admitted to doing so for two years, because they could not afford it.
For one in 12, they confessed that they would never be able to afford children.
Commenting on the findings, the SCM Direct said it showed the extent as to which "financial constraints are directly impacting on matters of the heart".
The report added: "We believe the impact of this delay is seismic, not just on a personal level for those who have hit the pause button, but on a wider level.
"What would be the societal and economic impact if the age that couples started families shifted to the late 30s and mid-40s, with couples in Generation Pause increasingly postponing having children?
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"What will be the impact on the housing market if we move to a nation of renters rather than buyers, or to a model in which people cant afford to get their first foot on the ladder until middle age?"
For the study, more than 3,000 people, aged between 18 and 85, were asked if they had, or would consider, delaying key milestones in their life, such as getting married or having children, because of financial constraints.
The poll, conducted by Research Plus, revealed a large number of those aged from 25 to 54 had taken such steps.
Known as the "Generation Pause", almost half of the age group admitted they would have to delay their original retirement plans due to a lack of savings, while a third said they were relying on family inheritance to fund their future plans.
However, when it comes to saving money, half of women said they had less than £1,000 in savings. This compares to less than a third of men.
One in five women said they had savings of more than £20,000, compared to more than a third of men. Spending is an issue with the "Generation Pause" though, as they said they spend four times as much on holidays as they do in investing in pensions or savings.
Gina Miller, of SCM Direct, said: "We are reaching a crossroad. Life ambitions that were once taken to be a given marriage, children, buying a property or retiring are no longer seen as achievable by a significant portion because feelings of financial security and stability are at an all-time low.
"We believe that the UK is heading for a crisis. Britain one of the most wealthy countries in the world now has a generation of 25 to 54-year-olds in which only one in six is confident that what they are currently saving will be enough to cover their future plans."
(JP/IT)
Top stories
20/03/2020
LeToya Luckett-Walker Is Pregnant
Charlotte Crosby Finds New Romance
Lydia Bright Gets Candid About Giving Birth
Lana Del Ray Splits From Boyfriend
Angelica Ross Learns Of Boyfriend's Secret Life
Ashley Graham's Breastfeeding Struggle
Susanna Reid's Mother's Day Plans
Lin-Manuel Miranda Homeschooling Kids
Kristen Bell Speaks Of Pride For Daughters
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