Gen X: The ‘Stable’ Generation Struggling to Stay Afloat
Financial security has long been seen as the reward for getting older – a natural milestone after climbing the career ladder and moving past big-ticket expenses like childcare and mortgages.
But new research from MoneyPlus shows a very different picture for Generation X (ages 45–60). Far from coasting, this so-called “stable generation” is quietly under huge financial pressure – with many considering debt solutions just to regain control.
Midlife Squeeze: Why Gen X Isn’t Feeling Secure
Instead of enjoying a comfortable midlife, many Gen Xers are facing high costs from every angle:
- Supporting ageing parents and dependent children (the “sandwich generation”)
- Rising household bills and inflation
- Uncertainty about retirement funds
Nearly 60% of Gen X say they’re not comfortable with their financial situation, despite being the most likely age group to have an emergency fund (65%).
Holidays and Milestones Take a Back Seat
A staggering 56% of Gen X have had to cancel or postpone a holiday for financial reasons.
What’s more, milestone celebrations for others – baby showers, hen and stag dos – are piling on the pressure. Social media is fuelling lavish expectations, with UK hen/stag parties costing £779 on average, and up to £1,200 for trips abroad.
Anel Andrew, an Insolvency Practitioner at MoneyPlus, warns:
“Social media makes it easy to compare yourself to others, but we don’t see the credit card debt or stress behind luxury lifestyles. The pressure to ‘keep up’ can lead to overspending and prioritising short-term gratification over long-term security.”
Over 54% of Gen X admit they feel pressured to spend significant amounts on these events.
Retirement Worries Mounting
An alarming 74% of people aged 45–60 are worried about their finances in retirement, with nearly a third saying they’re relying on an inheritance to support themselves later in life.
While younger generations also feel anxious about retirement (62% of Gen Z worry about it), the concerns are far more immediate for Gen X.
Debt and Buy Now, Pay Later (BNPL)
Debt levels are high across generations, but 50% of Gen X report having personal debt.
BNPL services like Klarna and ClearPay aren’t just for younger shoppers – 26% of Gen X are also using them to manage expenses. This reflects the balancing act between covering everyday costs and saving for the future.
A Generation in Financial Limbo
The generational wealth gap isn’t just about age – it’s about expectations clashing with reality. Once assumed to be on solid financial footing, Generation X is facing a perfect storm of pressures as they head toward retirement.
For many, it’s time to rethink how to regain control and plan ahead.
