noun a word that functions as the head of a noun phrase and refers to an entity, person, place, event, substance, or quality
Commonly used in discussions about the housing market, particularly in relation to first-time homebuyers who rely on financial help from their parents to make a down payment or cover closing costs.
Reflects the intergenerational transfer of wealth within families and the impact it can have on relationships and financial independence.
Refers to the practice of parents providing financial support to their adult children, often in the form of loans or gifts for major expenses such as buying a house or starting a business.
Describes parents financially supporting their children's educational pursuits, such as paying for college tuition or student loans.
Highlights disparities in wealth and access to resources, as not all individuals have the 'bank of mum and dad' to rely on for financial assistance.
Illustrates how financial support from parents can contribute to the accumulation of wealth across generations within a family.
The phrase 'the bank of mum and dad' can be used by writers in articles or stories to discuss the financial support provided by parents to their adult children for various reasons such as buying a house, starting a business, or paying off debts.
Psychologists may use the term 'the bank of mum and dad' when discussing the impact of financial dependence on adult children or the psychological dynamics of relying on parents for financial support.
Financial advisors may refer to 'the bank of mum and dad' when advising clients on the implications of borrowing money from parents or the importance of setting boundaries when it comes to financial support from family members.
Real estate agents may mention 'the bank of mum and dad' when discussing the trend of parents helping their children with down payments on homes or the challenges faced by first-time buyers who rely on parental financial assistance.