We’ve all heard of (and, no doubt, used) ‘The Bank of Mum and Dad’, but it looks like this well-known institution may be franchising! ‘The Bank of Brother and Sister’, ‘The Bank of Grandma and Grandad’ and even ‘The Bank of Sons and Daughters’ all appear to have opened for business recently, as new research shows the traditional arrangement of children borrowing money from their parents seems to be evolving.

In contrast to the linear idea of parents only supporting children financially, research now shows that 25% of families share their money across multiple generations to help one another….

If you’re like 99% of Britons, chances are you’re not fully on top of your finances. That’s not a made up statistic, even though it sounds far fetched – research from the Office of National Statistics (ONS) shows that:

“only 1 in 100 of us in truly financially savvy”.

Let’s take a look at how you can help yourself get on top of your finances…