# Generation Debt In The UK Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2016-05-10 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: Generation Debt: The Changing Economic Landscape Meta Description: Explore how each UK generation has faced different economic challenges, from the Swing Generation to Millennials. Discover how house prices, personal finances, URL: https://financedigest.com/generation-debt-in-the-ukhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/money-1736844762533-compressed.jpg) What we earn – and the way in which we earn it – is changing. Fast. Research [from finance experts Wizzcash](http://generationdebt.wizzcash.com/) explores how each UK generation has faced different economic problems – from the Swing Generation of the 1930s and ‘40s right up to the present day. Analysing the post-war prospects of the Baby Boomers to today’s Millennials, Generation Debt looks at the price of a pint, the average home, day-to-day costs and even life expectancy to build a picture of how generation to generation have been affected by the changing economy. The guide reveals that: - [House prices](https://www.financedigest.com/uk-house-prices-show-unexpected-strength-in-october-nationwide.html "UK house prices show unexpected strength in October: Nationwide") have rocketed – in the mid-’90s, the average house price was £116,685 in today’s money – now it’s more than double that at £227,000. - Our [personal finances](https://www.financedigest.com/top-8-must-know-personal-finance-facts-for-2023.html "Top 8 Must-Know Personal Finance Facts for 2023") have changed almost beyond recognition – in the ‘60s, a pint of beer cost 5p – today, it’s £3.31. - But [despite the uncertain economic](https://www.financedigest.com/fed-says-u-s-economic-recovery-on-track-despite-covid-19-surge.html "Fed says U.S. economic recovery on track despite COVID-19 surge") landscape, Millennials are more confident about their finances than their predecessors. Let’s look at a few sample generations form the guide and compare and contrast their different financial fortunes. _The Baby Boomers versus the Millennials_ It’s often said the Baby Boomers (born 1945 – 1960) have it pretty good. How do the Boomers shape up against the Millennials of today (born 1980 – 2000)? - The Baby Boomers have an average [life](https://www.financedigest.com/life-jacket-market-globally-expected-to-drive-growth-through-2027.html "Life Jacket Market Globally Expected to Drive Growth through 2027") expectancy of 73 – that’s compared to an expectancy of 80 for the Millennials, or Generation Y. - In the 1980s, if a Baby Boomer fancied popping to the pub for a pint, it would have set them back 35p – or £1.85 in today’s money. For the Millennials, a pint is a whopping £3.85. However, 1 in 4 MIllennials are teetotal… - University-going Baby Boomers definitely had it better than today’s crop of students. In the UK in the 1980s, university tuition was free, although there were maintenance grants to repay. Today, tuition fees are capped at £9,000 for most students, although some pay less. - Baby Boomers enjoyed some disposable income, around £7,347 a year – but the Millennials have a [bit](https://www.financedigest.com/tunable-filter-market-is-valued-at-around-us-77-mn-and-is-estimated-to-reach-a-value-a-bit-over-us-159-mn-in-2027.html "Tunable Filter Market is valued at around US$ 77 Mn and is estimated to reach a value a bit over US$ 159 Mn in 2027") more cash lying around – about £13,980. - When it comes to financial confidence, 35% of Baby Boomers are confident about their money, compared to 29% of Millennials. _What happens next?_ So what do we know? We live in an uncertain world, shaped by unexpected events – political, financial, cultural. It’s thought life [expectancy will reach the 90s in wealthier areas by as soon](https://www.financedigest.com/portugal-expects-deal-to-disconnect-power-prices-from-gas-prices-very-soon.html "Portugal expects deal to disconnect power prices from gas prices ‘very soon’") as 2030 – this raises lots of questions. For many of today’s young adults, economic uncertainty is the new normal. The [next generation](https://www.financedigest.com/siya-kolisi-empowers-next-generation-with-red-bull-roots.html "Siya Kolisi empowers next generation with Red Bull Roots") will know they need to make their own way in the world; it will be up to them to embrace this challenge with confidence and an entrepreneurial spirit. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---