Debt: the most common financial topic

Money tends to feature in parent-to-child chats more than most other subjects - according to research conducted by engage Mutual in 2008 - with debt the most common `money` topic.

Debt is the single most common (64%) financial topic of `parental education`, an engage Mutual press release reports, followed by saving for the future (62%).

In terms of practical help, it seems that 31% of parents are still handing out pocket money to offspring over the age of 25, while over 40% of 18-to-24 year-olds are contributing towards utility bills and 7% are supplementing parents` pensions and incomes.

Looking to grandparents, the research also found that 57% were helping support two generations of their family. 35% were contributing towards debt repayments, 33% towards home costs and 28% towards childcare costs.

Worryingly, over 60% stated that they could no longer afford to finance some of their family`s healthcare needs - and 43% of those said they couldn`t afford regular dental check-ups or treatment for dental problems.

"If anything, the findings of the past twelve months serve to underline the need, wherever possible, to set aside even modest amounts to help shore up the family finances," said Karl Elliott, 3GB spokesperson for engage Mutual Assurance.

"Times are tough, and the forecast is for it to remain so for some time. Those who can adopt the basic principles of savings and protection will be better prepared to meet the challenges that lie ahead."

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