Call for an instant quote 0345 90 80 161
Open Mon to Fri 08:30 - 19:00 | Sat 09:00 - 16:00 (GMT)
Or call 0345 90 80 161
05 March 2013 09:03
Many grandparents have given cash to their grandchildren to help them out
Many grandparents are having to help their grandchildren financially, research has shown. Around one in six said they have helped their younger relatives overcome money woes with cash handouts, with £2,496 being the average amount given away.
The Investec Wealth and Investment survey, which involved more than 1,000 grandparents, showed that 15% helped with big costs such as university fees or buying and renting a home. Meanwhile, just under half (47%) said the cash was for reducing debts or helping to relieve pressures from high living costs. Older people in Wales were found to be the most likely to be helping out their grandchildren, with just over a fifth (21%) handing over money.
With many grandparents having to help in this way, it can be important that for expenses such as holidays and seniors travel insurance they shop around and get the best possible deals to maximise their funds. Nick Gartland, senior financial planning director at Investec, explained that there had been a number of cases where grandparents had to help out when their grandchildren lost their job and were struggling. He added: "Many grandparents are also conscious of the impact of inheritance tax and believe it makes more sense to see the younger generation benefiting from their assets during their lifetime."
17 July 2019
Want to experience a different side of Portugal? Check out one of these great destinations that lie a step or two away from the standard tourist trail...
[more...]
08 July 2019
Want to taste the real France? Experience the best French food and drink at one of these excellent foodie festivals. Perfect for food and wine lovers everywhere!
Tired of the same old travel options? Explore the best travel experiences at one of these weird and wacky festivals from around the world.
Heading to the beach? Pack everything you need for the whole family by following this simple checklist.
05 July 2019
Heading off for some sun this summer? Protect your family's skin with these top tips to stay safe in the sun and prevent sunburn and lasting skin damage.
28 June 2019
Tired of paying over the odds for your family's summer holiday? Keep your costs down with our guide on how to get away for less...
Want to see Europe's greatest sport stars go head-to-head? Then head to Minsk! The capital of Belarus hosts this year's European Games – here's everything you need to know before travelling.
Heading to the European Games? Get more from your trip to Minsk by visiting some of these must-see attractions in the capital of Belarus.
Heading to the Austrian Grand Prix this summer? Get more out of your trip to Spielberg's iconic Red Bull Ring circuit with our guide to the local area.
07 June 2019
Thinking about going camping in France this summer but don't know where to try? Here's our quick guide to the best places to camp, whatever you're looking for.
Get hitched without a hitch! Here are our top tips on how to choose your perfect wedding location abroad, covering everything from food to legalities.