The bank of Mum

Women are more likely to help their children out financially than men.

Over half of women questioned in a survey admitted to giving their offspring extra money, whereas only four in ten men say that they have assisted.

Men, however, are more likely to have helped out their mates than have helped their children.

David Elms, chief executive of Unbiased.co.uk, says: "It is clear from our research that the majority of women are the 'softer' parent that children can 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."

Children often need help when buying their first home as most fail to budget properly for all the costs.

December 03^rd 2007

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