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Credit card claims: Parents 'taking adult children on holiday'

With young people finding it increasingly difficult to succeed when applying for finance through a loan claim or bank charges, many are opting to go on holiday with their parents.

Research from LV= travel insurance revealed nearly two million parents will take offspring in their 20s, 30s or 40s on a holiday over 2012, with many of these mothers and fathers covering the entirety of the cost.

While 33 per cent will subsidise the expense by paying for accommodation or flights, 67 per cent will not let their adult children pay a penny towards the excursion.

This is despite the fact that people reported taking a grown-up son or daughter on holiday with them typically adds an additional £380 to the cost of the vacation.

A total of 26 per cent reported that their child would not be able to afford a break without their assistance, with 24 per cent stating that if they did not pay, their offspring would not take a holiday at all.

"Young adults and even some middle-aged ones are trying to save money where they can and holidaying with the parents is becoming a growing trend," managing director of LV= travel insurance Selwyn Fernandes said.

Amir Hussain
Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801425920-ADNFCR



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