`Bank of mum and dad` lending children £12,000 each
9 March 2009
A new survey has suggested that more than half of parents with children over the age of 16 have lent or given their offspring a total of just under £12,000 each.
Scottish Widows, who carried out the survey, claimed that the findings could mean the younger adult population won`t get into the habit of saving `if their parents continue to bail them out in this way`.
A spokesperson for Think Banking said: "Learning to manage money effectively is a key skill for children and adults alike. Although parents obviously want to help their children, it`s vital they learn to manage their own finances."
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Tags: bank of mum and dad, bank, banking, bank account, loan, loans
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