When did you start feeling like an adult? For my youngest child, I’d put it about the age of 3, when I used to say that all she needed was a tin-opener and she was ready to move out. For my eldest, I’d imagine at some point in his mid-40s it’ll occur to him that living minute-to-minute is tough to sustain forever.
My son isn’t alone through, because one in seven don’t feel like an adult in money terms until the age of 40 or beyond, and more than one in 30 say they’ll never feel like an adult when it comes to money. And my family experience isn’t unusual either – with women more likely to feel like adults at slightly younger ages – by the age of 24 more than half of women feel like adults and less than half of men do.
By that age we’ll have had access to borrowing for an awfully long time, and if we‘ve been regularly overspending and running up debts, we could have built a huge financial headache by the time we’re ready to deal with it. It means that on leaving home, despite feeling way too young to worry about money, we need to draw up a budget, so we know what’s going in and coming out of our account each month.
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