Tuesday, October 16, 2012

Meet the 'Peter Pan generation': Debt-ridden, still living at home and too lazy to make the bed

  • 32% of Britons aged 25-39 are living with their parents
  • Many of those still living at home said they chose to because someone else cooks and cleans up after them
  • One in three do not even do their own washing while a third change their bed sheets once a month or less

By Daily Mail Reporter

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The UK is turning into a nation of 'Peter Pans' who never want to grow up, according to a new survey.

Many are turning their backs on 'adulthood milestones' like marriage and starting a family, with more than a quarter admitting they lack the basic skills to live on their own.

Research released by life insurance expert Confused.com showed 32 per cent of Britons aged 25-39 are still living at home with their parents.

The generation who don't want to grow up: Many adults are delaying marriage and starting a family to stay at home where they are looked after by their parents

The generation who don't want to grow up: Many adults are delaying marriage and starting a family to stay at home where they are looked after by their parents

Nearly two thirds - 63 per cent - turn their backs on marriage with nearly the same proportion - 60 per cent - delaying starting a family.

Nearly one in four - 24 - per cent - who are still living at home said the main reason is because they get meals cooked for them and nearly one in 10 say it is because someone else cleans up after them.

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The figures, based on people in the UK between the age of 18 and 39, found most of these stay-at-home sons and daughters are not ready to move out - or move on - with over a quarter - 27 per cent - of adults admitting they lack the basic skills to live on their own.

One in three do not even do their own washing and men are the worst offenders with nearly half below 40 leaving their washing to their partners, parents or housemates.

Women are slightly better, but more than a fifth - 21 per cent - still rely on others to clean up after them.

And a third of Brits between the ages of 18 and 39 change their bed sheets once a month or less, while 34 per cent rarely or never cook for themselves.

Lazy: One in three do not do their own washing and change their bed once a month or less

Lazy: One in three do not do their own washing and change their bed once a month or less

The research, conducted by OnePoll for Confused.com in August, surveyed 2,000 respondents between 18 and 39.

It also found almost half of Britain's 'Peter Pan generation' is in debt of more than ?9,000 (excluding mortgages).

Almost a fifth of 18-39-year-olds also adopt a carefree attitude to their finances, regularly spending between ?50-?150 each week - ?5,000 a year - on keeping themselves entertained.

A further 25 per cent admitted they were too busy living for today to think about the money they will need to pay back tomorrow.

The research found Britons throw caution to the wind when it comes to providing cover for the future with two thirds yet to purchase life insurance and more than half of 25-32-year-olds haven't started a pension plan either.

Matt Lloyd, head of life insurance at Confused.com, said: 'There's absolutely nothing wrong with being young at heart, but living for today doesn't mean you have to totally ignore tomorrow.

'What we recommend to people in their 20s is to start thinking now to see what they could be doing to make proper provisions for the future.

'Starting a savings account, a pension plan and putting in place life insurance are just some of the basics that can make a big difference to people's financial security and they're really not as complicated as people think.

'When you take out your life insurance policy you are locked into that price throughout the term, so it's beneficial to take out a policy when you are younger as it could save you thousands of pounds in the long term.'

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Source: http://www.dailymail.co.uk/news/article-2217877/Meet-Peter-Pan-generation-Debt-ridden-living-home-lazy-make-bed.html?ITO=1490

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