Parents risking financial future to support adult children, Aldermore finds
Aldermore research found parents have given an average of £8,096 from their own savings to support adult children, with 27% saying it has significantly reduced their financial safety net.
Parents across the UK are risking their own financial resilience to support their adult children, according to new research from Aldermore Bank.
The bank’s latest Savings Tracker found parents of adult children have given an average of £8,096 from their savings to provide financial support.
Nearly half, at 44%, have contributed up to £5,000, while 10% have given between £10,000 and £30,000.
Aldermore said the findings showed that, for many families, financial support for adult children was becoming an ongoing commitment rather than a one-off gesture.
The research found 27% of parents said helping their children had significantly reduced their own financial safety net, raising concerns about long-term resilience and leaving them more exposed to unexpected costs or retirement shortfalls.
Among parents who had dipped into their savings, 12% had helped their child get onto the property ladder, 11% had supported everyday expenses such as food, utilities and travel, and 9% had provided general financial support linked to the rising cost of living.
Aldermore said emotional factors were also influencing parents’ decisions. The research found 45% of parents did not believe their children would be able to afford a home without financial support, while 42% said they felt guilty that their children may be financially worse off than they were at the same age.
Alex Myers, head of savings at Aldermore, commented: “We’re seeing a clear shift in how families are supporting each other financially. Parents have always wanted to support their children but the scale of financial help we’re now seeing highlights just how tough the current environment is for younger people.
“It’s crucial that young adults feel supported to build their own financial resilience so they don’t have to rely on parents in the long term. Whether that’s saving regularly, budgeting confidently or accessing guidance, small steps can make a meaningful difference over time.
“While this support can make a real difference, it’s important that parents don’t lose sight of their own financial resilience. Striking a balance between helping family and protecting your own future is key.”
Related
Adult children living at home could cost parents £17bn a year
Young adults not expected to leave home until 27 due to financial pressures, study finds
UK house prices fall annually for first time since November 2023
Scottish house prices rise 1.8% as market outpaces England and Wales
Edinburgh second home surcharge will not solve housing emergency, DJ Alexander warns
Homes near top state schools post £40,574 premium, Yopa finds
Semi-detached and terraced homes record strong house price growth – e.surv
Back-to-school commitments to slow property search for 88% of parents, research finds
Homes in National Parks hold 24% premium – Nationwide
Commuter belt house price growth outpaces every major UK city – Yopa
88% of brokers report rise in holiday let enquiries
