Yahoo News Bank of Mum (not Dad): research shows mothers are more likely to give their children cash
The Bank of Mum and Dad has been replaced with the Bank of Mum, according to a new survey that suggests that mothers are more generous with handouts.
One in six mothers (17 per cent) will their grown-up children cash to help them out, compared with only one in ten (9 per cent) fathers.
The research by Nationwide Building Society also found a similar proportion ofmothers (16 per cent) will still cook and bake for their sons and daughters once they reach adulthood. The figure for fathers is just two per cent.
Around one in seven (15 per cent) of mothers still wash or iron clothes for adult offspring, unlike fathers, one per cent of whom said they would do the same.
But fathers are more likely to pass on their DIY expertise (11 per cent) than mothers (four per cent).
Larry Banda, Nationwide's Director of Financial Planning said: "It's encouraging to see appreciation of the financial skills passed down by mums featuring so prominently.
"Careful budgeting and organisation of finances can make a huge difference to both wealth and wellbeing - and learning to prepare for a rainy day, as well as bigger purchases to come, can make the difference toward achieving your goals in adulthood."
Nationwide surveyed 2,000 people.
Young adults are increasingly having to rely on parents and other family members to help them out financially as the cost of renting and buying property becomes increasingly unaffordable.
Research last year found that one in 12 properties bought in the UK is partly funded by a gift from family or a friend. For first-time buyers, the proportion needing help with their deposit is even higher, at 17 per cent, according to the study by conveyancer My Home Move.
