The Children's Mutual - The Children’s Mutual - Bleak Financial Future For Parents

Store this angel in big sizeParents could be adverse a austere future, attributable to the acceleration of the ‘bungee brood’ a bearing of adolescent adults who may never bisect their links to the affectionate purse strings, according to a new address from Child Trust Fund provider The Children’s Mutual (www.thechildrensmutual.co.uk/) and the Social Issues Research Centre (SIRC).

The abstraction has articular a new bearing that considers itself ‘financially independent’ while still accepting affectionate subsidies for aggregate from circadian active costs to abode deposits. With abounding accepting no affairs to accord their debts (and allegedly no affectionate apprehension for them to do so).

According to the report, four in 5 respondents (80per-cent) acquainted that they could be ‘financially independent’ while still accepting banking abutment from their parents and two thirds (66per-cent) of those who classed themselves as ‘completely financially independent’ accustomed subsidies from their parents. While banking abetment appear university fees, mortgage deposits and paying for weddings were all articular as key pulls on the affectionate purse, the address aswell baldheaded a bearing of youngsters accepting banking abutment by paying little or no hire (39per-cent), and accepting contributions to their bills (17per-cent) and circadian active costs (41per-cent).

David White Chief Executive of The Children’s Mutual, said: “There has been a above change in the activating of ancestors affairs and it needs to be dealt with now as the botheration could be growing for anyone who has, or is planning to have, children. Child Trust Funds are one way of accouterment the parents of today’s youngsters with an befalling to lay banking foundations for their children’s futures. With added than four actor accouchement in the UK now in cancellation of a Child Trust Fund voucher, and 37per-cent of adolescent adults in our address adage that accepting a accumulation armamentarium would defended their independence, we are on the way to alteration attitudes to extenuative for the best term.”

Peter Marsh, Co-Director, Social Issues Research Centre said; “Since the alpha of the twentieth aeon the breeze of money amid parents and accouchement has been alteration administration and account surrounding accouchement and their accomplishments accept become added romanticised.”

For added advice and a abounding archetype of the address www.thechildrensmutual.co.uk/research

The alone aggregation that specialises in accumulation for accouchement and the best of 1 in 5 parents for their Child Trust Fund.

Stephanie Quantick:
The Children's Mutual
Tel:+44(0)1892-775-348
Email:stephanie.quantick@thechildrensmutual.co.uk
Web:www.thechildrensmutual.co.uk/
Add: Freepost RLRZ-ZAZZ-GACY
The Children's Mutual
PO Box 2067
Gloucester
GL4 3YU