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Revealed – the most expensive year of your life. Was it for you?

So what do you think has been the most expensive year of your life? Although it may seem as if every year is expensive, Clearscore has revealed that actually, 31 is the costliest year.

You may find yourself nodding along in agreement (or dreading it if you’re not there yet!), but this is mainly because the big, and expensive life events tend to happen at around that age.

It’s not the same for everyone of course, but for many of us, 31 is the age we get married, buy a house, and have a baby. 

According to Clearscore’s research (and hold onto your hats!), your 31-year-old needs £43,000 to cover the costs – nearly double the average salary.

You can see why people find themselves in a shed load of debt because everything is happening at once.

If you were to stagger these big events, it wouldn’t be so hard on your pocket, but of course, life doesn’t always work that way. That said, preparing yourself for these events can save a lot of headaches later on down the road. 

What are the most expensive events?

Clearscore asked 3,000 people about their lives/finances and found that the top five things that contribute to our most expensive year are:

  • Weddings (27%)

  • Buying a house (25%)

  • Having a baby (20%)

  • Honeymoon (14%)

It was also found that millennials (25 – 34 year olds) have a tougher time financially, with one in five having to rely on credit cards to fund these big purchases.

So how can you make the cost of these events less painful?

First things first, you want to get budgeting so you know how much you have, how much you’ve got to spend, and how much you need to save to avoid getting into a huge amount of debt.


If you’re planning on getting hitched, you may find that costs can spiral out of control (with lots of hidden extras you might not have thought about).

The average expected cost (excluding the honeymoon and wedding rings) from those that were surveyed was between £5,000 and £10,000.

Buying a house

Getting your foot on the property ladder is no mean feat, and is probably the most expensive purchase you’ll ever make.

There’s so much you have to think about, from mortgage applications, Stamp Duty to finding yourself a solicitor.

Our Interactive money timeline will help you manage your money before, during and after the birth of your baby.

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