Lots of people see the new year as an opportunity to spruce up their home, with many choosing to install a new kitchen when January rolls round.
And if you have had dreams of a new cooking area, compete with marble tiles UK and new appliances, you might be among the many Brits who look to their parents to help them out.
According to Saga, adults still rely on their parents to save money for them, helping them to cope with every day costs.
Indeed, recent research showed that the average parent saves £212 a month for each of their children. This also goes for parents in their twilight years, with one in 12 over the age of 50 putting cash aside each month for their offspring.
What’s more, one in ten people over 80 continue to save money for their kids, regardless of them being adults themselves.
Managing director of Saga Investment Services Nici Audhlam-Gardiner noted that many grandparents are also setting aside money for their grandchildren, saving as much as £13,400 before they reach their 18th birthday, so they can put this money towards financial commitments in the future.
“Saving for grandchildren is a goal of many grandparents, looking to provide a leg up for their grandchildren – whether that’s for driving lessons, their first car or help towards a house deposit,” she stated.
Those who already own their house and car, however, may instead prefer a brand new kitchen.
For ideas on how to kit out and decorate your kitchen, visit us today.