Da una ricerca di Ambassador Cruise Line è emerso che la “Banca dei nonni e delle nonne” è in aumento
Gli inglesi si affidano prevalentemente alla “Bank of Grandma and Grandad” per soluzioni rapide in contanti
· Oltre la metà (52%) degli inglesi ha chiesto soldi ai nonni
· Quasi due terzi (63%) degli uomini hanno chiesto elargizioni rispetto al 43% delle donne, con gli uomini che in genere ricevono una donazione tre volte superiore
· Un quarto delle persone pensa che i propri nonni siano “vasi di soldi”
· Jason Butler, esperto di benessere finanziario globale, offre una visione equilibrata del motivo per cui la “Banca dei nonni e dei nonni” sta diventando sempre più popolare
· Ambassador proroga la data di chiusura per le candidature ai Nonni dell’anno prima della Giornata nazionale dei nonni
Genitori, fatevi da parte: c’è una nuova banca in città! Una nuova ricerca di Ambassador Cruise Line ha rilevato che la “Banca dei nonni e dei nonni” è in aumento, poiché più della metà dei britannici (52%) ha chiesto soldi ai nonni, con il 5% che ha addirittura chiesto ai genitori di fare il sporco lavorare per loro.
L’indagine commissionata dalla compagnia di crociere premium del Regno Unito, senza voli prima della Giornata nazionale dei nonni del 1° ottobre, ha rivelato che l’importo medio donato ai nipoti negli ultimi 12 mesi è stato di ben 4.464,70 sterline, con gli uomini che hanno ricevuto sterline. 6.823,80, uno sbalorditivo 211% in più rispetto alle loro controparti femminili a £ 2.192,30.
MOVE ASIDE, MUM AND DAD – BRITS NOW TRUST ‘BANK OF GRANDMA AND GRANDAD’ FOR QUICK CASH FIXES
Move aside, Mum and Dad – Brits Now Trust ‘Bank of Grandma and Grandad’ for Quick Cash Fixes
· Over half (52%) of Brits have asked their grandparents for money
· Almost two thirds (63%) of men have asked for handouts compared to 43% of women, with men typically being gifted three times as much
· A quarter of people think their grandparents are ‘money pits’
· Jason Butler, Global Financial Wellbeing Expert, offers a balanced view on why the ‘Bank of Grandma and Grandad’ is becoming more popular
· Ambassador extends closing date for Grandparent of the Year nominations ahead of National Grandparents’ Day
Parents, step aside – there is a new bank in town! New research from Ambassador Cruise Line has found that the ‘Bank of Grandma and Grandad’ is on the rise, as more than half of Brits (52%) have asked their grandparents for money, with 5% even getting their parents to do their dirty work for them.
The survey commissioned by the UK’s premium-value, no-fly cruise line ahead of National Grandparent’s Day on 1 October, has revealed that the average amount gifted to grandchildren over the past 12 months has been a whopping £4,464.70, with men being offered £6,823.80, a staggering 211% more than their female counterparts at £2,192.30.
And if viewing grandparents as an extra pot of cash wasn’t cheeky enough, a quarter of Brits (24%) have admitted to only using their grandparents as money pits, because they have “plenty of spare cash”.
The poll of 1,000 respondents has shown that men have mastered the art of asking their doting grandparents for money, with almost two thirds (63%) tapping into the Bank of Grandma and Grandad versus just 43% of women.
Jason Butler, Global Financial Wellbeing Expert with over 25 years of financial expertise, says: “This research shows that gender inequality seems to extend to family wealth transfers, with a much higher proportion of men mastering the withdrawal slip at the ‘Bank of Grandma and Grandad’, asking for a lot more than their female counterparts. So, when it comes to financial gifts, ladies need to remember that if they don’t ask, they don’t always get the family financial help available.”
However, it seems the growing number of Brits relying on the Bank of Grandma and Grandad is being driven by grandparents too, with one in five respondents disclosing that they are offered financial support every time they see their grandparents. Heartwarmingly, just under half said they had asked their grandparents for money in the past because they had almost always been willing and ready to support them.
Nearly half of us (44%) that receive money from our grandparents do so with little idea of what we are going to spend it on, incorporating it into our day-to-day expenses or general finances. One in ten (9%) use the money to pay for a holiday, with a similar number (11%) putting it towards a wedding or a honeymoon. 10% of those that received money did so in the form of an early inheritance.
Jason continues: “With inheritance tax receipts reaching new highs – £3.2B was paid by estates from April to August 2023 compared to £2.9B for the same period the year before – grandparents may be more inclined to pass on wealth to their grandchildren now when it can make a real difference, and avoid a large amount being lost to the taxman.”
Additionally, the Bank of Grandma and Grandad is helping fund initiatives that are making a positive impact on their grandchildren’s lives. Moving far beyond just topping up pocket money, more than one in five (23%) said the money offered had helped to fund their education and 11% credit their grandparents for supporting them onto the first rung of the property ladder.
Jason continues: “The new research shows that family traditions, a desire for success, and pure selflessness are just some reasons why the ‘Bank of Grandma and Grandad’ keeps its doors open. And it isn’t just for pocket change—it’s funding dreams, aspirations, and life’s important moments, from education to first homes.”
Despite their generosity, and just like the rest of the nation, some of the people behind the Bank of Grandma and Grandad are struggling to make ends meet during the cost-of-living crisis, with 45% of those polled disclosing that the current situation has affected their grandparents’ ability to offer financial support.
For others, the support acts as a lifeline, with 7% saying that this period of economic difficulty has meant they have completely relied on monetary support from their grandparents.
With the economic situation younger people are grappling with right now, the Bank of Grandma and Grandad is one of the few support options for many. The top five reasons people believe they are given money are:
- Grandparents feeling an obligation to support their grandchildren (43%)
- It’s part of their family values or cultural traditions (31%)
- Grandparents selflessly choosing to spend money on family over themselves (28%)
- Grandparents’ desire to see their grandchildren succeed and make the most out of life (27%)
- Grandparents having disposable income to spare (24%)
Signs of withdrawal: Bank of Grandma and Grandad is accompanied by a guilt receipt
For grandchildren, grandparent gifting often comes with a cost – guilt. Over a third (37%) of us feel shame when accepting money from our grandparents, with 19% stating this stems from not being able to stand on their own two feet financially and being forced to lean on grandparents for support.
Overwhelmingly, the Bank of Grandma and Grandad is seen as a loan of love
Where money is concerned, family rifts can often erupt – yet this isn’t the case with the Bank of Grandma and Grandad. A third of people have claimed their biggest feeling when receiving money from their grandparents is “embarrassed but grateful”, closely followed by feeling “happy, because I know they like to help out”.
Jason adds: “While banks talk interest rates, the ‘Bank of Grandma and Grandad’ speaks in love and selflessness, with love the prevailing currency.”
Surprisingly, around six in 10 (59%) say the money lent to them is purely a gift and there is no expectation that this will be paid back – a true show of love from elder family members. But even so, a fifth of people say they will “try to negotiate a way to pay them back” and 27% have said that they will be paying the money back either in full or in instalments, suggesting that not all grandchildren willingly accept money from their grandparents without repaying their debts.
Christian Verhounig CEO of Ambassador Cruise Line says: “While previously it has been parents as the go-to source when children were in need, Ambassador’s research has found that the Bank of Grandma and Grandad may now be the preferred money source for grandchildren. In fact, many grandparents are more than happy to help out as they want their grandchildren to succeed and get on in life.
“Even in the face of the current economic challenges, the Bank of Grandma and Grandad has remained open for business. The unwavering support offered should be recognised and is a luxury the youth of today should not be taking for granted. Where possible, recipients of the Bank of Grandma and Grandad should show their appreciation for the most unconventional but loyal bank they are ever likely to experience.”
Payback: Ambassador looks to reward Nation’s Greatest Grandparent in search for Grandparent of the Year
The survey was conducted by Ambassador after the premium value, no-fly cruise line, which specialises in adult-only sailings aimed at the 50+ market along with multigenerational cruises, launched a search for its first ever Grandparent of the Year to mark National Grandparents’ day (press release here).
Calling on the nation to afford this little-known national day the same honourable status as Mother’s Day and Father’s Day, the brand is encouraging friends and family to nominate their grandparent (or someone they know who is a grandparent) for the national title – with a cruise holiday going to the Grandma or Grandad deemed worthy of the title. The closing date for nominations has been extended to Sunday 1 October, with the winners named soon after – visit www.ambassadorcruiseline.com/national-grandparents-day to find out more.
Additional findings on how the younger generation interacts with their grandparents, if they see them as much as they might and whether they could do more to show their appreciation for all that they do for the family unit, were published by Ambassador last week