The fairer sex to the financial rescue

Men have been less likely to lend money to their children than women - over half of women have helped out their children financially (52%) compared to only 40 per cent of men, according to research by Unbiased.co.uk.

Shockingly, a higher percentage of men have bailed out their mates than their children! (45% as opposed to 40%)

According to Unbiased.co.uk’s research, children in London are the most financially independent as they have been bailed out by their parents the least (29%) compared to the rest of the UK where on average 50 per cent of parents help out their children financially. The top region for children to get financial help from their parents is Yorkshire & Humberside (57%).

David Elms, chief executive of Unbiased.co.uk comments “It is clear from our research that the majority of women are the ‘softer’ parent that children rely on for financial assistance. However, both parents in the London area appear to encourage their children to be more financially independent and do not lend money as frequently as parents up North. It could be time for Northern children to stop relying on either of their parents and take personal control of their finances. Unbiased.co.uk is encouraging people of all ages to Get Saving!, and be proactive in avoiding financial difficulties before they arise. Try using the budget planner at Unbiased.co.uk or speak to an independent financial adviser to come more financially independent instead of relying on parents to bail you out.”

Unbiased.co.uk offers consumers a range of information and interactive tools at unbiased.co.uk/getsaving, to help them take financial control. Visitors can also obtain details of local IFAs who focus on budgeting and saving. To find an IFA in your area, visit unbiased.co.uk.