There is a wealth of figures published about the cost of raising a child in modern society. From clothes and school uniforms to holidays, first cars and tuition fees, the list of outgoings is never-ending, easily stacking up to hundreds of thousands of pounds per child.
Whilst many expectant parents may look forward to that 18th birthday, when the child embraces adulthood and flies the nest to fend for themselves, in reality, this could merely be a pipe dream. In today’s economy, many parents are faced with using their personal savings to support their offspring financially even when they enter adult life. Aldermore takes a look at the rarely acknowledged costs of adult children and why you need to be saving now.