Over 55s ’embrace pay-as-you-go lifestyle because they don’t want commitments’

The over 55s are embracing a ‘pay-as-you-go’ lifestyle because they don’t want to be tied down to any commitments – including relationships.

Research of 1,000 over 55s, found that despite the perception of older generations seeking a more settled and secure way of life, nearly half (47 per cent) prefer to be flexible with their commitments.

Only 13 per cent are dedicated to one specific sports team, less than a fifth are committed to their job and, staggeringly, more than half say they aren’t even committed to their relationship.

In fact, nearly a fifth of the age group would go as far to say they lead an easy-going bachelor or bachelorette lifestyle, and nearly a third (32 per cent) have no interest in getting married whatsoever.

The study was commissioned by Bulb to celebrate the launch of its Smart Pay As You Go offering.

Bulb co-founder, Amit Gudka, said: “It’s great to see over 55s embracing a lifestyle with fewer commitments and more options for flexibility and spontaneity.

“Whether they’re managing their personal finances or topping up their energy on the go, it’s clear the over 55s are seeking more freedom to control their everyday spending.”

The study also found this care-free attitude to life has seen 21 per cent quit their job spontaneously and 16 per cent make the impulsive decision to dye their hair.

A further 14 per cent have inked themselves with a tattoo, and 19 per cent have bought a new car on a whim.

It also emerged nearly a third of over 55s are not tied down to any monthly subscriptions.

More than six in 10 (62 per cent) like to have the flexibility to change things as and when they please, while a fifth like to live spontaneously and make a decision in the moment.

Nearly two thirds of over 55s (63 per cent) said that being able to pay for things at their own pace also helps keep their spending habits under control.

And being able to manage their personal finances is still important to 92 per cent of the age group.

Amit Gudka added: “When we founded Bulb, we recognised the importance of providing our customers with a simple, easy way to manage their energy without being tied down to long, inflexible commitments.

“As well as being 100 per cent renewable, Bulb’s Smart Pay As You Go is flexible, accessible and affordable.

“You can top up directly through the Bulb app from anywhere at any time and stay in control while looking out for the planet.”