Former 'Yuppies' struggle for cash
Nearly half of people who were dubbed Yuppies in the 1980s say they now struggling financially, according to a report.
So-called Yuppies or Young Urban Professionals epitomised 1980s success, and were infamous for their high spending, Filofaxes, having the latest gadgets and splashing out on expensive dining.
But 20 years on, 45% of former Yuppies claim they are struggling financially or failing to live within their means, according to Liverpool Victoria friendly society.
At the same time, seven out of 10 former Yuppies, now aged between 45 and 55, say they should have saved more money earlier in their career and 32% worry about how they would cope if their regular income stopped.
The number of people splashing out on expensive dining has halved, from 20% of Yuppies in the 1980s to just 9% now, while only 13% still buy the latest gadgets, compared with 18% 20 years ago.
Instead the number of former Yuppies donating money to charity has doubled to 21%, up from 9% in the 1980s, while they are also five times more likely to be concerned about the environment and eating organically.
Just 15% of those questioned have managed to accrue assets, including their home, worth more than 500,000, with 46% having wealth of less than 250,000.
More than half of former Yuppies say saving for retirement is now one of their top financial concerns, followed by paying off the mortgage, at 40%, and repaying debts at 34%.
Despite 42% of former Yuppies thinking they were high earners for their age in the 1980s, just 33% think they earn a good salary now, while 35% think they earn less than average for someone their age.
Just under half of people said they thought they worked too many hours during the 1980s and 35% say they still think this is the case today.
Nigel Snell, communications director at Liverpool Victoria, said: "Our research on Yuppies has found that Thursday's privileged minority appears to have become part of today's anxious majority.
"Their concerns span not only their own financial and family commitments, but also the wider environmental and social agenda.
"Despite the champagne lifestyle and optimism of the time, our research reveals that many former high flyers have ended up no better off than the average mid-life family.
"They are just as worried about meeting the monthly bills, the cost of bringing up their kids and how they will fund their old age."
:: YouGov questioned 2,409 people during September.
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