NEW RESEARCH REVEALS THE ‘AGE OF PAYBACK’ AMONG BRITISH FAMILIES
24 has been revealed as the 'age of payback' - when grown-up children finally start picking up the bill for their long-suffering parents, according to a new study* by affordable car hire booking company auto europe.
Researchers discovered that until that point mums and dads are bombarded with almost daily requests to borrow money for one thing or another.
But the tables finally turn when the 'kids' are able to stand on their own two feet – and start chirping up with 'Don't worry, I'll get this ... ' at restaurants, on day trips out, or even lavish holidays abroad.
British parents can expect to enjoy the first ever alcoholic drink bought for them by their offspring when they are 21, and have a meal paid for two years later.
Mums and dads are also likely to be presented with an all-expenses paid weekend away when their "youngster" turns 26 and if they're really lucky, they'll get to enjoy a free spa day when their son or daughter is 25.
Yesterday a spokesperson for auto europe, commented: "It might take adult children a while to repay their parents for bringing them up, but when they do, they use their cash to show their mums and dads just how appreciated they are.”
The study, which was carried out among more than 1,000 parents with children over the age of 18 also found while many parents can expect 'payback' to kick in at some point, others are not so fortunate.
One in four (26 percent) are still handing over cash now and again, while close to one in five generous parents (18 percent) still give their kids a monthly allowance.
Meanwhile another 11 percent of parents said they field requests for money 'most months'.
When it comes to paying it back, some parents are better off than others.
Almost one in five (19 percent) said the money isn't always returned, while 13 percent said they did get it back, but only in dribs and drabs.
Seven percent admitted their kids always vow to return the cash – but rarely did.
The study also found for around one in four mums and dads (26 percent) it is still a struggle getting their kids to put their hands in their pockets.
Another 21 percent said while the children did often offer to pay, they were happy to pick up the bill so the children could save their money.
Furthermore, the results revealed around 27 percent of parents have only been taken out, safe in the knowledge the kids will pick up the bill, once in a blue moon.
Until they turn 24 most grown-up children live the 'life of Riley' at mum and dad's expense with 14 percent of parents saying that they still take their fully-grown kids on holiday – and pick up the bill - providing them with an additional £165 spending money.
And another 24 percent said this occurred 'now and again'.
The spokesperson for auto europe, added: “What’s heartening to see in the results of our survey is that kids are recreating memories from their childhood and paying back their parents by showing how much they mean to them, just as their parents did for them when they were younger."
KIDS' AGE WHEN THEY TREAT MUM AND DAD TO:
A Pint 21
A new car 26
Holiday abroad 27
Weekend away 26
Spa day 25
Night at a hotel 25
Educational course 25
New item of furniture 24
A new watch 23
Item of jewellery 22
New shoes 23
Item of clothing 22
Cinema trip 22
Day out 24
Meal out 23
Invited over for dinner 25
Leant them money for their home 24
Notes to Editors
*Research commissioned by Auto Europe in April 2016 and conducted by Ginger Research among 1023 parents between the ages of 35 - 60 + with children over the age 18 years old.
For media enquiries, please contact firstname.lastname@example.org or 0207 517 2207
About Auto Europe
autoeurope.co.uk partners with international car rental companies such as Avis, Budget, Europcar and Hertz as well as with a great number of national and regional suppliers to find best rates on car hire worldwide.
Its philosophy focuses on its customers and the quality of service it has to offer. With 60 years experience that sets it apart from other car hire companies, you can book a car, motorhome, motorcycle for your trip, or even hire a chauffeur.