With the rent, food, clothes, tuition and other expenses, raising a child to the age of 21 may cost around £230,000! This is our newest survey result based on a large number of participants. For sure, the Mum & Dad bank is the go-to bank for many children, young or adult.
We were curious as to when this "bank" closes and when parents and children swap their roles. Or, do they ever? Take a look at the infographic below to see how far parents would go in providing for their adult children and what costs they still cover even though the children are now fully-fledged grown-ups.
Click here to open the full infographic:
The cost of raising a child to the age of 21 is around £230,000. The Bank of Mum & Dad seems to be a profitable one for children, but do they return the favour?*
*Based on recent survey results