A new investigation from Admiral MultiCover reveals more than half (51%) of Brits believe parents should continue to financially support their adult children after the age of 18, even after they’ve moved out of the family home.
By contrast,13% argue that when the child reaches 18, they should no longer receive any help with their finances from their parents.
Admiral has worked closely with Mrs Mummypenny who has offered her tips and advice to help parents reduce their children’s reliance on them.
Staying in the nest
When it comes to parents and grown-up children sharing a living space, Admiral MultiCover found that one in ten (10%) Brits believe that adult children should never move out of their parents’ home, even if they are financially independent.
Just under a third (30%) of people think that financially independent children should fly the nest between the ages of 25 and 30, while 27% believe it should happen when they’re younger and between 19 and 21 years old.
On average, people in the UK believe financially independent children should move out of their family home at the age of 24, three years later than the average age people moved out in 1997.