Credit crunch generation stuck in financial adolescence

Research conducted by Skipton Building Society reveals that almost half of Brits believe that the global economic crisis is forcing people to remain financial teenagers into their late twenties.  Home ownership was cited as the number one life milestone that many are failing to achieve, to ‘grow up’.
Other factors cited as life milestones being missed included becoming financially independent of parents, paying into a pension and being able to budget responsibly.  
As well as financial goals, the survey of 2,000 people also showed some practical signs of growing up.  These included being able to bleed a radiator and cook an evening meal from scratch.  Most people don’t feel like a grown-up until they are 26.
Tracy Fletcher, head of Corporate Communications at Skipton Building Society commented:
“Many of the indicators are things which people need to have mastered — such as looking after the house and garden, being able to cook and taking responsibility when it comes to personal finances.
“But other factors are the key milestones in life — such as buying a house, getting married and having children — things which are happening at a later age due to economic circumstances, job security and so on.
“Owning a house topped the poll as two-thirds of Brits felt this was the most significant factor when it comes to aging and accepting responsibility, and yet it is harder than ever to step foot on the property ladder.”
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