Mum’s the word for financial help

When it comes to financial and debt management help, mum is the word, according to a recent study commissioned by Unbiased.co.uk.

The price comparison firm’s research found that British women are more likely than their male counterparts to have assisted their children financially.

Parents living in London were found to be the least likely in the UK to have lent their children money, while British men were discovered to have helped out their friends financially more often than their children.

David Elms, chief executive of Unbiased.co.uk, said: “It is clear from our research that the majority of women are the ‘softer’ parent that children rely on for financial assistance.

“Unbiased.co.uk is encouraging people of all ages to Get Saving and be proactive in avoiding financial difficulties before they arise.”

Earlier this week, Citizens Advice urged British shoppers to plan their Christmas spending carefully to avoid a new year debt management hangover.