The Brits are not just our friends across the pond: They seem to be very much like us when it comes to giving their adult children a financial boost. A recent survey by the insurance company Liverpool Victoria had these findings:
94 percent of parents surveyed still make financial contributions to their children's education and major financial purchases, such as houses and cars.
55 percent assist with general costs of living, even more so during the credit crunch.
In the current economic climate [it's just as bad over there as it is here], the parents are the hardest hit and tend to bypass their own needs to help out the kids.
Eight out of 10 of those with grandchildren were helping to support both generations
Almost half of parents aged 70 or older said they were still helping their children financially.
Almost
two-thirds of mums and dads said they helped their adult children
because "they need the assistance", while 17 per cent said their child
had asked them for financial support.
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