Mums offer advice, dads give cash – research shows dads are the real softies!
The old adage about mums being the soft ones is untrue, as research shows it’s dads who are more likely to hand out the cash to grown-up children, whilst mums offer words of wisdom.
The study found that although 93% of parents have helped their grown-up children financially, dads are much more likely to offer cash for things like cars, insurance and co-signing loans than mums.
Yet when it comes to talking, it’s all about us mums. Women are much more likely to speak to their children about finances and family issues regularly and to offer advice.
Suzanna de Baca, of Amerprise Financial, who conducted the study has said that it's fair for parents to broach the subject of money with grown-up children and that it can be done without too much drama.
She said: “It’s absolutely fair for a baby boomer parent to ask their [university]-aged child what his or her plan is to pay back their student loans, or to ask their aging parents how they plan to pay for healthcare and if they anticipate needing help.”
Is this true in your house? When it comes to money, who is a soft touch and more likely to give up the cash?