Revealed: The costly life milestones keeping Scots up at night

A new survey has uncovered which future financial concerns are worrying Scots the most.

By The Newsroom
Friday, 27th April 2018, 8:31 am

Kitchen worktop supplier Stone Genie asked 500 Scots which costly life milestones they find the most daunting - and the results are in.

The finances associated with buying a first home proved to be the biggest concern for Scots, taking almost half of the overall vote.

Forking out for a funeral was the runner-up, with just under a quarter of respondents admitting to worrying about leaving their families with this costly expense.

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    Putting down roots

    Buying their first house topped the poll for 48% of participants, with nearly half of Scots revealing that the prospect of getting a foot on the property ladder filled them with anxiety.

    Similarly, for 71% of 25-34 year old respondents, their status as a first-time buyer proved a huge cause for concern.

    Planning for the future

    Interestingly, Scottish women fear the financial burden of death more than the costs associated with starting a family, with 27% of respondents saying paying for their funeral is the thing that keeps them awake at night - something 36% of 55-64 year olds agree with.

    While just 19% of Scots cited starting a family as their biggest financial concern, for 18-24 year olds, this came out on top - with 55% of their vote.

    For male millennials, raising a family is the most daunting of the lot, raking in 60% of their vote.

    Education and wedding woes

    The costs associated with paying for a wedding appear to be an issue for 12% of Scots - with men in particular fearing this monetary milestone.

    For a little under 7% of the Scottish population, funding their children’s higher education is a particular costly concern.

    Other money-related strains included rent costs and retirement pots.

    While there’s a clear age divide when it comes to the financial fears plaguing Scots, one thing’s for sure: keeping up with the cost of living in Britain is no mean feat in 2018.

    Topline results:

    Which of the following costly life milestones do you think are the most daunting?

    Buying your first house: 48.0%

    Paying for your funeral: 22.2%

    Starting a family: 19.1%

    Paying for a wedding: 11.8%

    Paying for further education: 6.7%

    Other: 2.4%