FAMILY holiday prices continue to rise, with the cost of living crisis affecting all areas of life.

But some men and women expecting their parents to foot the bill for a family holiday, way into their twenties or even thirties.

A survey carried out by financial advisors Bankrate has revealed the exact age at which people should no longer be relying on their parents for certain things, including holiday costs.

According to the survey, parents should stop funding their kids' travel when they reach the age of 20.

YouGov asked 2,553 adults (including 890 adults with at least one child 18 or older) questions about money and age, including the age people should start paying for their own phones, rent and travel costs.

It turns out, most people think children should start paying for everything by their 20th birthday, including flights and accommodation on holidays.

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It also showed that most parents' chances of retirement were also being hampered by having to pay for things like their kids' holidays.

In fact, 50 percent of respondents said they had sacrificed or are sacrificing their own retirement savings in order to help their adult children financially.

Some parents may feel uneasy about asking their children for money for family holidays, but there are healthy ways to have those conversations.

Dr. Laura Dabney, a psychiatrist specializing in interpersonal relationships, told Bankrate: “You have to decide what works best for you and then present that.

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“Start with being honest about that. And then, listen to the child — and maybe come up with a compromise.

"Take the two wants and needs from both sides and come up with a plan that works for everybody so there’s no resentment that eventually gets in the way.”

As well as paying for their kids to come along, there are other ways in which parents can spend money they don't need to on family holidays.

Research has revealed that almost a third of parents are still exchanging cash at airports, despite 59 per cent saying they’re trying to cut costs so they can afford overseas holidays.

Foreign exchange rates at airports are typically higher than other places, meaning families risk losing out to expensive currency exchange.

Yet numbers put together by travel debit card company Currensea show that three in ten families with school-age children still believe it’s more convenient to get their travel cash at the airport.

Total holiday spending money for families averages at more than £2,000 for a week’s holiday.

This could amount to over £200 lost when exchanging pounds into dollars or euros at the airport, compared to using cards abroad.

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Meanwhile, this simple trick could help families save money when booking flights.

And this expert revealed mistakes that families make when booking holidays that could cost money.


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