Mothers and fathers are currently providing - or planning to give - their adult children significantly more financial help than they were given from their own parentsThis is according to a survey by Standard Life, which found 62 per cent of mums and dads are doing so or intend to when their child grows up.While 24 per cent expect to help their offspring cope with credit card charges, bank claims, mortgages and other debts, 38 per cent predict they will pay for a wedding.Furthermore, 52 per cent of parents argue that it is their duty to provide monetary assistance to their children, while 33 per cent worry their sons and daughters would not be able to reach their potential without this help."The economic downturn and price increases have left many parents expecting to have to financially support their children into adulthood," Standard Life head of customer relations Julie Russell declared.Raising a child to the age of 21 now costs parents an average of at least £218,000, the most recent Cost of a Child report from insurer LV= revealed.Samantha Clarke Samantha is a former banking assistant and has over ten years experience in retail banking.
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