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Personal Finance News
01/11/12
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Money advice in increasing demand, says study
31/10/12
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Payment barriers exist for disabled and older people, says study
31/10/12
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Gender differences apparent when financial planning
31/10/12
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Half of Brits shop with a basic credit card, says study
30/10/12
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Number of Brits sitting on forgotten direct debits - 2.68 million
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This Week's Personal Finance News Update
01/11/12
-
Money advice in increasing demand, says study
31/10/12
-
Payment barriers exist for disabled and older people, says study
31/10/12
-
Gender differences apparent when financial planning
31/10/12
-
Half of Brits shop with a basic credit card, says study
30/10/12
-
Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12
-
More than half of parents are unaware of Junior ISAs
30/10/12
-
Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12
-
Brits left with £1.4bn repair bill during 'mischief week'
29/10/12
-
East of England landlords at apex of yield chart
29/10/12
-
Buyers more optimistic about Scottish property market
News
16/07/2012 13:57:15
1 in 7 giving money to both parents and children
New figures show that 15 per cent of adults in the UK are giving money to support both their parents and their children.
The Co-operative Bank's 'Modern Families and Households' report brings a new meaning to the term 'squeezed middle', with a combination of trends conspiring against those in middle age.
With adults having children later and their parents living longer, this generation is paying out an average of £3,505 a year to support their children under 18 and their parents.
Almost half of those providing support to their parents do so to help them meet the everyday costs of living, while a third contribute to bills.
As a consequence, two-thirds feel their finances are under strain and 58 per cent are prevented from enjoying their preferred lifestyle.
"The report shows how the changing nature of modern families and cost pressures of living in the current economic climate, are placing real financial pressures on the shoulders of today's middle generation," said Robin Taylor, head of banking at The Co-operative.
