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Kids bailing out mum and dad
Last year parents borrowed £54 million from their kids, research shows.
Research by money.co.uk showed that 31 per cent of parents raided their children's pocket money because they were short of cash at least once during 2009, taking on average £15 a time. That said 92 per cent of the money borrowed has made it back into piggy banks.
However, it is thought that around £4 million of the money borrowed by parents from their children is still outstanding, with 7.6 per cent of parents admitting they still owe money.
Chris Morling, managing director for money.co.uk, said: "There is no shame in borrowing a few pounds from children providing it is only temporarily."
On average kids receive £4.80 a week in pocket money and while 75 per cent of them save this money, only 28 per cent have a savings account they put pocket money in.
According to a study by Scottish Widows Savings and Investments, adult children are coming to the bank of mum and dad for help as they struggle to secure jobs and credit. And parents are cutting into their own savings to help adult children cope with mounting debts and living costs.