The poll highlighted that people in their 40s tend to fall into 2 distinct groups – those leading a traditional family lifestyle and the ‘young-at-heart singletons’. However, it is clear that regardless of whether they are married with kids or living the single life, many people in their 40s share the same spending habits and money worries.
Some 42% wish they’d put away more money while a similar number worry that their pension won’t be enough when they retire, and nearly a third (30%) worry about being able to support their children.
When it comes to splashing their cash, most 40-somethings spend the biggest chunk on bills, but there’s still an appetite for more ‘fun’ purchases – others said they spent most of their money on clothes (46%), holidays (41%) and Christmas (42%).
Andrew Baddeley-Chappell, Nationwide’s Head of Savings Policy, said: “Given our 40s are when we statistically reach middle age it is perhaps unsurprising that this transition from youth to maturity finds many with a foot firmly in both camps."
“At a time when we could be considered in our prime, our research suggests that some Brits are finding their 40s quite tough. Their message to the younger generations would be to spend more time looking after your finances and your fitness – avoid that squeezed middle in both senses!”
You can see more of our findings about 40-somethings lifestyles in the below infographic.