A recent Daily Life article discusses the trend for parents to continue to give money to their offspring well into adulthood.
(You can read the full Daily Life article here)
From the article:
However, the ‘bank of Mum and Dad’ is no solution. Firstly, not everyone can afford to help out their children. Let’s not forget that both generations weathered the global recession of 2007 and with it redundancies, restricted borrowing and comparatively low interest rates for savings. Financial planner Claire Mackay agrees: “The big questions that clients have are ‘do I have enough money to retire?’ and ‘how can I help my children?’ But, there’s no point in helping your kids to the detriment of your own financial security – especially if by providing support, in a few years’ time you’re going to need your children to