Bank Of Mum And Dad
- Bank of Mum and Dad is off air
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Bank Of Mum And Dad
Credit culture has Britain in its dangerous grasp and it's among the 16-24 age group that the situation is becoming most serious. For many young adults, debts spiral into their thousands and often have to return, tail between legs, to the safety of Mum and Dad for some much-needed financial help. And this very handing over of the purse strings to the parents makes for great telly.
So join us as we follow five twenty and thirty-somethings, seriously in the red, as they try to get back on the fiscal straight and narrow. It's out with shopping at Selfridges and in with the supermarket as not only do Ma and Pa take over the finances and curb their wayward spending - they move in with them as well!
Offering helpful advice along the way is Bank of Mum & Dad's financial expert, the aptly named Lawrence Gold, helping these big spenders work out exactly how much they really owe and create a realistic budget and financial plan. First up are Dawn and Richard: a soon to be married couple with a busy nightlife, 20-a-day fag habit, 2 cars, 2 kids and family pets. Dawn's parents Jackie and Steve try not to cry when they find out their daughter and future son-in-law are £26,000 in debt!
Just one question: isn't it the parents' fault anyway that their kids don't seem to know the value of money in the first place?
For more on managing your money, read Vet Your Debt, Balancing Act, Dump the Debt, Good Financial Habits and How to Stop Teenagers Spending your Pension.
Offering helpful advice along the way is Bank of Mum & Dad's financial expert, the aptly named Lawrence Gold, helping these big spenders work out exactly how much they really owe and create a realistic budget and financial plan. First up are Dawn and Richard: a soon to be married couple with a busy nightlife, 20-a-day fag habit, 2 cars, 2 kids and family pets. Dawn's parents Jackie and Steve try not to cry when they find out their daughter and future son-in-law are £26,000 in debt!
Just one question: isn't it the parents' fault anyway that their kids don't seem to know the value of money in the first place?
For more on managing your money, read Vet Your Debt, Balancing Act, Dump the Debt, Good Financial Habits and How to Stop Teenagers Spending your Pension.
