Parental bonds know no bounds

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The impulse to do the best for children appears to know no bounds. Research conducted by National Savings and Investments (NS&I) reveals that parents are putting their finances under considerable strain to make sure their kids miss out on nothing.
More than half work longer hours to boost earnings and many are falling into debt. Some admitted they simply could not resist the demands of their offspring. Although most agreed that children were not aware of the value of the money spent on them, 32 per cent actually felt it was right that children take their parents monetary support completely for granted.
Parents who have built up a number of different debts in order to finance their children’s activities may wish to consider the various options presented by a personal loan. Indeed those with numerous debts may benefit from a debt consolidation loan, where all monthly outgoings can be combined into one, more manageable, payment.
The NS&I research also found that, despite the financial pain, parents are nonetheless planning on offering financial support to their children well into adulthood. Some 24 per cent of parents said they would give funds to their kids until they were stable themselves, no matter how long it would take. Meanwhile, one-third said they would give help until the children started earning their own income.