OPINION ARTICLE

WHAT PEOPLE IN THEIR THIRTIES SPEND THEIR MONEY ON

According to the latest statistics, boys tend to spend their money on products related to sport or mobility, like cars and motorbikes, while girls prefer things that offer them security such as their own house, furniture or clothes. Generally speaking, it can be said that girls are more mature than boys and buy in a more intelligent, rational and selective way. But let’s concentrate now on what people in their thirties spend their money on.

Spanish young people leave their parents’ home later than other Europeans do. The idea of becoming emancipated does not seem too much important for them. There are several reasons that can explain this fact, but the main one is the growing housing problem in Spain. Every person’s final dream is to live in a house of their own, especially for people that just did “the thirty-somethings”. But buying a home may be one of the biggest investments they will ever make and they will have to get into debt.

Recent figures show that the preference of people at that age is to invest on buying their home at least half of their salary, and even in some cases the 70 % of their incomes. Moreover, following the last researches carried out by Spanish consumer organizations, 60% of people under thirty spend almost the total salary they receive each month. That figure means that they do not save a cent. They just try to enjoy life going out with friends and buying whatever they like without thinking about what fate has in store for them.

Some time ago people did not content themselves with buying a normal flat; they tended to buy the house they had ever dreamed of, such as semi-detached houses, bungalows or duplex apartments. No matter if they had to take out a mortgage with a high interest rate for years. But nowadays the purchase of houses appears to be decreasing due to the current economic crisis and people have to resign themselves to buying small flats.

Finally we will mention that a new preference seems to be appearing in this decade. It is related to home entertainment systems such as plasma screen TVs, home cinema TVs, DVD players or the latest video game consoles. In most cases spending more money than they earn or than they have in their current accounts tends to be the rule followed by people in their thirties. They expect to reach happiness buying everything they want, because for them there is a connection between spending money and quality of life. However, happiness can mean different things to different people. For example, for one person, it may mean having a love relationship, whereas for someone else it may mean having the most luxury car in the market, no matter that they cannot afford it.