Money matters at age 38

London - By our late 30s, most of us will have been paying bills and managing our spending for years.

But it takes us until 38 before we finally feel financially mature, a study suggests.

This could be because many responsibilities – such as buying a home or settling down – now come about later in life. Having children topped the list of events that forced people to take control of their financial situation, named by half of people in the survey of 2 000 Britons.

Buying a house was the second most common reason people felt they had reached a “financial turning point”, followed by making a major home improvement, losing a job and buying a car, the research for discounts website VoucherCodes.co.uk found. The study also suggested that many of us should be keeping a closer eye on our finances.

One in ten said they have no idea how much their bills come to each month, while 59 percent are unaware of exactly how much money is in their bank account.

And just 23 percent of those surveyed said they know exactly how much debt they are in, excluding their mortgage.

Daily Mail