Separated parents who fail to contribute financially to the upbringing of their children, face ruining their credit rating from next year.
There are currently 8.1 million over 50s in the UK (35%) who have no will in place, according to research from specialist insurance provider RIAS. The findings come as Will Aid Month kicks off on the 1st November.
Parents with adult children living under their roof are spending £1,200 more than their Empty Nester counterparts each year on every day household expenditure, bringing the total annual cost of ‘Full Nest Syndrome’ in the UK to £3.2 billion.
Many Brits often lament the loss of ‘the good old days’ with the prevalence of home cooking, baking and other domestic skills.
With the costs of bringing up a child spiralling, British parents could be forgiven for hoping that their offspring will be off their hands (and wallets) by the time they reach adulthood.
More than six in 10 (61 per cent) university undergraduates in full-time education also have jobs, according to new research from the 1l2l3 Student Current Account.
The average UK couple spend close to a million pounds (£877,000) on key lifetime events such as buying a house, getting married, having children and enjoying a comfortable retirement, according to a report from Lloyds Bank.
A major new study conducted by Royal London highlights that funeral debt in the UK has reached £142m. It also reveals how Brits are struggling to pay for funerals, but showing resilience as they find ways to pay.
The average cost of raising a child to secondary school age stands at almost £85,000 according to the latest Halifax Cost of Children research.
Young adults age 18-34 living with their parents are saving themselves a staggering £17.1bn a year in rent and living costs, according to research conducted on behalf of budgeting account provider thinkmoney.co.uk.
Millions of UK adults are relying on the Bank of Mum and Dad for financial help, until their own retirement, according to research from Gocompare.com.
It is only natural for parents to want the best for their children, but new figures show that they are setting their sights high, with more than two in five (43 per cent) saying that they have been influenced by Prince George, when buying items for their baby.
New mothers are reluctant to return to work after having a child, with new statistics revealing that 28 per cent did not go back to their previous employer and only 6% felt the desire to start their own business (6%).
Children who receive pocket money are more likely to develop strong financial planning skills in later life and are much less likely to be in debt, according to a pan European study of more than 12,000 consumers across Europe.
There are lots of reasons someone might have chosen not to pursue higher education after obtaining their GCSEs or even after passing their A levels. Some have cited family obligations.
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