Press releases

Twenty something’s don’t have time to be wild - YOUNG, RICH AND BORING (30/01/2007)

Contrary to popular belief, British twenty something’s may not be a generation of indebted, partying wild childs according to new research from accident and health insurer, Combined Insurance. The findings show that even if they have the cash to blow, the majority don’t have the time to blow it.

At a time when the average graduate takes home £1246* each month - spending £830 every month on essential monthly outgoings – the latest findings show that far from partying the night away, the average 20 year old spends almost 3 hours a day in front of the TV, gets 8 hours sleep a night and spends 90 minutes doing housework. The findings also show that with the average twenty-something spending 8 hours each day at work, young people are left with just 3 hours for partying, dating and exercise.

Combined Insurance asked a GB representative sample of 2,000 people how long they spend doing various activities during the course of an average working day.

Key Findings :

• At least one in five (18%) twenty something’s spend up to an hour and a half a day thinking about work or working from home, that’s an extra 10.5 hours a week.

• The average twenty something is getting almost 8 hours of sleep a night (7.8 hours) dispelling myths that this age group are burning the midnight oil.

• Eating takes up a significant chunk of the day with most people spending up to 1.6 hours a day eating meals.

• As many as 76% spend up to an hour in the bathroom every day dispelling the myth that this is a ‘Wash and Go’ age group.

Nigel Brittle at Combined Insurance says: “Often we find that we are so busy just living that it is easy to forget about important things. At the start of the New Year when many set out grand plans to turn their bulging waistlines into bulging wallets, our research suggests that young people are finding it hard to make the time to sort their finances.”

“All too often protection for the future is believed to be something for the older and more mature person, and is ignored by twenty-something’s. In reality however, today’s high cost of living means commitments to mortgages, rent or debt repayments are greater than ever before for people in their twenties as well as older age groups. For the price of an average take-away, people can have peace of mind knowing that should the unthinkable happen, their commitments will be protected.”

For more information please contact:
Derek Gilmour / Kate Seggie FD Consumer Dynamics 020 7269 7265/7151
Derek.gilmour@fd.com

Notes to editors;

- Research was carried out by YouGov amongst a GB representative sample of 2,000 people in November 2006.

- *based on a gross salary of £19,451 - http://news.bbc.co.uk/1/hi/education/6183017.stm

- **based on research carried out by YouGov amongst a GB representative sample of 2,000 in October 2006

- Since 1919, Combined Insurance has specialised in bringing affordable, quality insurance products to individuals and families - and currently provides supplemental disability, accident, health and life cover to over 3.5 million policyholders.