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Source for credit cards
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Older is Greener - Retirees and Credit cards AXA a worldwide company that offers financial protection has published a report that shows that countless persons are still hoping to use their credit cards even after they have retired. According to the research which was done on a national level, 45 percent which is over 17 million of the population of adults in the U.K. anticipated using their credit cards after they had retired. The older the age, the higher the increase in this figure. In fact amongst the adults only 26 percent believed that they would not use a credit card or related after retirement. In an experiment that was conducted with 26 households scattered across the UK AXA challenged these families, singles and couples to manage on an income that was equal to the disposable state pension. The experiment would last for one week. When the results came out the winner was a solitary household. 327.18 pounds was the maximum amount spent and .54 pounds was the minimum for the week. It was humorous to learn that many households' weekly allowance was already spent by Sunday lunchtime a mere two and a half days after the experiment began. Saran Allott Davey an employee of AXA commented that this experiment was a wake up call to its participants. She said that many people dreamt of retiring at age 55 without knowing clearly how much money they would be getting as pension. This experiment alerted such persons to the grim reality out there. It is now up to them to make minor changes and save up money on a long term basis than to be forced to make these changes later when more is at stake. More Details... |
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