A new report has found that 40% of young adults need their parents to help them get by, day-to-day – a tough task for any parent, but one that could be helped by a secured loan.

The Children's Mutual and the Social Issues Research Centre found that 41% of 18 to 25-year-olds regularly have their day-to-day living costs funded by their parents. While financial assistance towards university fees, mortgage deposits and paying for weddings were all identified as key pulls on the parental purse, the report also uncovered a generation of youngsters receiving financial support by paying little or no rent, and receiving contributions to their bills and day-to-day living expenses.

David White, chief executive of The Children's Mutual, says: "There has been a major change in the dynamic of family finances and it needs to be dealt with now as the problem could be growing for anyone who has children. Many parents of today's young adults are choosing to make their children's finances their problem and are increasingly faced with difficult choices – perhaps to take on more debt or to reduce funds that are available for them."

It's natural to help your kids, and during a recession it might be vital to do what you can to help them get by. Obviously everyone would prefer to be independent, but tough times call for tough decisions.

If you are trying to help your kids, you could talk to a broker about unlocking some of the capital in your home. Using a secured loan could take some of the capital in your property and allow your children to get through a rough patch. Maybe they need help paying off a loan, moving house or even buying a new car. You would do all you can to help them – and a secured loan is just another way to make sure you can.

SOURCE: Children's Mutual, 24/02/09

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