MORE children are relying on their parents for financial help than ever before, a study has found.
A study by TopCashback found that 86 per cent of parents in the Midlands admit to helping their children out of debt in hard times.
A further 63 per cent of parents still have their children living at home without charging them rent to ease the financial strain and research also reveals that around half of parents feel they weren’t taught enough about money management by their own parents.
However, 65 per cent of parents feel they’ve taught their children enough about managing their finances to become financially independent. A quarter of parents say their children are ‘savvy savers’ and 18 per cent describe their kids as ‘thrifty’.
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