Money less important to us the older we get - survey

More than one in three men consider money the most important factor of life

More than one in three men consider money the most important factor of life

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Money becomes less important to us the older we get, a survey suggests.

And men are more likely than women to believe money is the most important aspect of their lives, according to research from Experian.

Across the survey of more than 3,800 people, nearly three in 10 (29%) agreed with the statement: “Money is the most important thing in my life.”

While 17% of over-55s surveyed considered money to be the most important aspect of life, this compared with 43% of 16 to 24-year-olds.

More than one in three (34%) men considered money to be the most important factor of life, compared with one in four (25%) women.

Asked what concerned them when it came to having a more fulfilled life, 58% of people said their financial situation, while 53% also mentioned their health and 34% were concerned about their career.

Some 27.5% said they were worried about love and relationships when it came to having a more fulfilled life and 23% wanted to learn something new.

The findings also suggested we learn from our past money mistakes and handle our finances better as we become older.

Just over half (51%) of people surveyed believed they would be happier if they could get a better grasp of their finances, rising to more than two-thirds (68%) of 16 to 24-year-olds.

While nearly half (46%) of 16 to 24-year-olds found it hard to manage their money, only around one in 10 (11%) over-55s found money management a struggle.

Experian recently started offering free credit scoring as part of a credit deals comparison service called CreditMatcher.