Scottish students unaware of financial pressure they put on their parents

They may also hope to have few extra pounds in their pocket. But that dream is only a reality until the kids come home.

New research from TopCashback.co.uk, reveals that half (50 per cent) of parents in Scotland feel under financial pressure when their children return home and 55 per cent become stressed as a result.

However, children are blissfully unaware of the strain they put on their folks with the majority (82 per cent) admitting they do not know if they change their parent’s financial situation when they are living back at home.

The study of parents and students who come home for the summer holidays, in Scotland, finds that parents see their outgoings increase dramatically by £1,919 over the summer months. They face an additional £328 in bills, £44 more in fuel costs and give their children, on average, £374 in cash. Parents also pay for them to go on the family holiday, and even shell out for their kids to go away with mates, costing a staggering £1,343 combined.

Nevertheless, it seems parents in Scotland are shielding their children from the financial burden with 29 per cent not making their children aware of the increased monetary worries. While more than half (53 per cent) alternatively ask their kids to do more around the home instead of paying rent or helping with bills. As a result, 62 per cent of youngsters think they contribute fairly to the running of the household, yet more than half (55 per cent) of parents disagree.

The research also reveals parents and children’s pet peeves when living together. Parents become frustrated when their children do not pick up after themselves and children dislike it when their parents are overly protective.

Children’s top 10 pet peeves of living with their parents

Parents’ top 10 pet peeves of living with their children

1. Asking where they are (32%)

1. Children not tidying up after themselves (55%)

2. Treating them like a kid (23%)

2. Leaving the lights / switches on (43%)

3. Being overprotective (22%)

3. Having a messy bedrooms (41%)

4. Judging what they spend their money on (18%)

4. Sleeping in all day (36%)

5. Not respecting their privacy (17%)

5. Leaving towels on the floor (28%)

6. Asking serious life questions (15%)

6. Coming in late (22%)

7. Going through their stuff (12%)

7. Not cleaning the bath (22%)

8. Opening their post (12%)

8. Water on the bathroom floor (21%)

9. Parents arguing (10%)

9. Being in the bathroom too long (21%)

10. Spending time with family (10%)

10. Eating all the food (19%)

Natasha Rachel Smith, Consumer Affairs Editor for TopCashback.co.uk said: “With the rise of the boomerang generation and more and more children relying on the Bank of Mum and Dad, it’s not surprising that parents are feeling stressed about finances. However, our research also found that 55 per cent of parents do feel financially prepared for their kids returning home and do so by budgeting throughout the year and cutting down on luxuries to ease the financial strain.

“From switching energy suppliers to booking holidays, with a little know-how, parents can make a saving or even get money back to help with their increasing outgoings. Looking for voucher codes, discounts and cashback opportunities can also help free up some cash.”