Adult children are ‘sapping’ their parents’ savings

Adult children are ‘sapping’ their parents’ savings and
investments at an increasing rate of knots, as Scottish Widows reveals the position has got even worse over the past year. Over half (55%) of parents have given or loaned their children or grandchildren thousands of pounds compared to a figure of 39% last year – an increase of 16%. The average amount given by parents to their offspring is £12,610.

This is just part of the UK’s Debt Facts and Figures  compiled by CreditAction on 1st March 2008. Click here to download the full statistics.

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