‘Adulting’ Officially Starts at 30

• MoneySuperMarket analysed over 30 million enquiries to pinpoint the age at which we truly start ‘adulting’

• Financial pressure of children, combined with mortgage and loans, reveals 30 to be when we really arrive at ‘adulthood’

• Half the nationⁱ feel increasingly anxious as they become more financially responsible

MoneySuperMarket today reveals that 30ⁱⁱ is the age at which Brits start ‘adulting’, as they combine increasing financial responsibility with parenthood.

The leading price comparison website analysed millions of credit card, mortgage and loan enquiries over the last two years to build a unique picture of the nation’s key borrowing milestones, in order to identify the age at which Brits feel most financially responsible.

30 is when applications for ‘debt loans’ – loans specifically to pay off other debts – peak, accounting for 4.5% of all loan enquiries. In second and third place are the ages of 31 and 29.

The MoneySuperMarket report also reveals some of the pressures that come with adulthood, with 48% of the nation admitting to feeling more anxious with the more financial responsibility they accumulate. When asked what made them feel like an adult, 11% cited turning 30, alongside graduating (12%) and moving in with a partner (24%).

With the average age of a first-time mum sitting at 28.8ⁱⁱⁱ, and 29 being the most popular time for enquiries about both mortgages and credit cards, 30 has been identified as the crunch point at which adults feel under most financial strain.

1. 28: The average age to become a first-time mum is 28.8 years old, when women are most likely to start the £75,436 journey of raising a child^iv
2. 29: The age that people are most likely to enquire about mortgages and credit cards combined is 29, suggesting it’s when people take their first step into home ownership^v
3. 30: With a credit card, children and previous outstanding loans, 30 is the age at which Brits feel the financial squeeze most. The number of enquiries for ‘debt loans’ – loans specifically to pay off other debts – is highest at this age, accounting for 4.5% of all enquiries^vi
4. 41: Brits aged 41 ask for the highest loan value of any age, sitting at an average £12,984 – 87% higher than requested by those in their 20s, with a 21-year-old’s average loan request sitting at £6,926^vii

Rachel Wait, consumer affairs spokesperson at MoneySuperMarket, says, “People naturally go through different life stages at different times, but what our report shows is there are certain moments when the weight of financial responsibility is much heavier than others.

“Late twenties and early thirties represent some of the most financially squeezed points – and with enquiries for debt loans shooting up at 30, it’s clear people hit peak ‘adulting’ as they come out of their twenties.

“When it comes to your finances, planning ahead is always ideal but it’s never too late to start budgeting for important milestones. If you do need to borrow, don’t panic – there are ways to do it responsibly and manage your debt in a way that works for you. Make sure you also check the terms and conditions before you apply for any credit, to ensure that you can meet the minimum repayments and stay on top of your debt.”

For more information on loans, credit cards or mortgages, visit MoneySuperMarket.

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