Parents still supporting one in ten adults

Robyn Hall

February 27, 2013

This increased to more than one in four (26%) in the 18-34 year old age bracket.

The research also found that men (12%) are more likely than women (8%) to continue receiving financial support after they’ve left home.

John Miles, business development director at Gocompare.com, said: “It’s worrying that so many people continue to receive help with their outgoings from their parents suggesting that they aren’t able to manage their household budgets.

“But while many see this support as a short-term solution, plenty of those we asked seemed quite happy for their parents to continue bailing them out for the foreseeable future.”

Gocompare also found that more than a quarter (26%) of all the adults surveyed said that the first place they would go for help in a money emergency is to their parents.

Gocompare said that with 14% of respondents admitting that their parents don’t know how bad their finances are more parents could be called on to provide ‘pocket money’ for their grown up children.

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