The signs you've grown up financially

Using loyalty cards was seen as a sign of being financially mature, according to a survey. Photo: Chris Ison/PA

Using loyalty cards, having a “rainy day” fund, and taking your own lunch into work are signs you have reached “financial maturity”, according to a survey. It also revealed that most people do not feel in control of their money until age 31 – and are at their most frivolous with their spending at the age of 22.

When asked what the signs of financial maturity would be, Brits cited regularly paying into a savings account (66%), having a pension plan (55%), and “shopping around for the best deals” before making purchases (53%) as the top three indicators.

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Never going into an overdraft (49%) and paying off credit card bills on a monthly basis (45%), round out the top five.

You might just be financially mature if you use loyalty cards (45%), have a rainy day fund (40%), or know your exact bank balance at all times (40%).

Brits also said not lending cash to friends if you are not likely to get it back (37%) and taking a packed lunch to work (31%) are signs someone is “good with money”.

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The survey of 2,000 Britons by lender Zopa also found that men typically feel in control of their money at a younger age than women – at about 29, compared with 33.

Brits also said they had naturally started spending less on social activities after reaching their mid-30s – perhaps because some were spending more evenings at home while raising young children.

Two in five (57%) people aged 35 or over are are more inclined to spend an evening at home now they are older, and spend less money when they do go out than they did in their 20s.

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A fifth (19%) of people in this age group also said said they were able to save more in their mid-to-late 30s, as they had less stag-dos, hen-dos and weddings to pay for.

Top 10 signs you’ve reached ‘financial maturity

  1. You have a savings account you regularly pay into

  2. You have a pension plan

  3. You shop around for the best deals

  4. You are never in your overdraft

  5. You pay off your credit card bills monthly

  6. You use loyalty cards

  7. You have a “rainy day” fund

  8. You know the exact balance of your account at all times

  9. You don’t lend cash to friends if you are not likely to get it back

  10. You prepare your own lunch to take to work