What is the most expensive year for the average American?
(WWBT/WXIX) - What do you think the single most expensive year of your life has been? According to a new survey, it's when you turn 31.
ClearScore, a credit score company, surveyed 3000 people age 25 and over, and had each outline their expenses for the previous year. They found 31-year-olds shelled out the most.
Why? They're paying for things like weddings and honeymoons, new babies, and first homes.
ClearScore says 31-year-olds spend up to $60,000 in that single year. The average U.S. worker is making $44,000 a year.
That same survey found 60 percent of those 31-year-olds were able to cover those expenses themselves, thanks to earnings and savings. 33 percent said they needed a loan - from the bank of Mom and Dad!
As many of us know, your early thirties can sort of sneak up on you, after the busy blur of your twenties. It's never too early to build a budget and start saving for that first house, or a family, or retirement.
If you need help doing that, look for a good certified financial planner.
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