Half of adults still rely on parents

Almost half of adults have said that they still rely on their parents for financial support, according to a new study. Over the last year, adults have borrowed a total of £708 from their parents to assist in the costs of university fees, bills and home improvements, with some admitting to using the cash to fund coffee pods, contact lenses, mobile phone bills and dog food. Out of the 2000 adults polled, three in five said that they would struggle to cope without financial support from their parents. The research was commissioned by Virgin Media to mark the launch of its new Family Plan offering. The research shows that ‘The Bank of Mum and Dad’ is still very much in business, with Brits depending on their parents even when they’re grown-up.