I don’t know about you, but I didn’t go to university (it was free then, too!), so it was quite a steep learning curve when Sam, and then Charlie, went off to uni. There’s so much to think about, from accommodation to finances, but one of the things we never really considered was what would happen when they came home again after graduating. I’ve heard of parents turning the spare room into a gym as soon as their offspring were out the door, but we’ve always made it really clear to our kids that this is their home forever. The thing is, though, it’s an expensive old business, in fact, new research from Skipton Building Society has found that 2.7 million parents in the UK are supporting their grown-up children into later life. But what does this mean for your own finances? Can you help out your kids while still saving for yourself and planning for your own future? And how do you readjust as a household full of adults? Skipton asked me for my managing your finances when your kids bounce back from uni, so here are my top tips:
You can adjust all of your cookie settings by navigating the tabs on the left hand side.