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Revealed: cost of having a 'full nest'.

PARENTS P with adult children still living at home are typically spending PS1,200 a year more to keep their household running than those whose offspring have flown the nest, a report suggests.

Research by the Centre for the Modern Family, a think tank set up by Scottish Widows, looked at the strain that the boomerang generation of young people who cannot afford to leave home is having on their parents who are supplying them with bed and board.

The "meet the full nesters" report found that parents with a "full nest" of grown-up children report that their household spending is around PS460 per month, which is PS100 a month more than "empty nesters", adding up to an extra PS1,200 a year. Around 2.7 million households in the UK are estimated to have adult children still living in the home they grew up in.

Parents with a full nest were found to be more likely to say they were pouring less money into their savings, raiding their savings accounts, shopping at cheaper supermarkets, using "value" brands, spending on credit cards, going overdrawn, working extra hours and even selling off valuables in order to get by. One in 11 (9%) of full nesters said they were going as far as to skip meals to meet the cost of everyday living. Almost half (44%) of full nesters surveyed said their current focus was on providing for their family, compared with less 23% of empty nesters.

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Publication:South Wales Echo (Cardiff, Wales)
Date:Oct 22, 2014
Words:245
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