Saga: Check insurance as credit crunch boosts family holidays

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Saga: Check insurance as credit crunch boosts family holidays

Family trips are being revived as adults try to save money in the credit crunch, according to new data from Saga.

Almost half (44 per cent) of people in their late 20s are going back to holidaying with their parents to save money, the research found.

More than a third (36 per cent) of adults say saving money and having free childcare from their own parents are the reason they are going back to family holidays later in life.

The average age to return to holidaying with parents was found to be 29.

Saga stressed the importance of checking which travel policy best suits such a holiday.

Andrew Goodsell, chief executive of Saga, said it was "encouraging" that the credit crunch could mean families spend more time together.

M&G Investments has suggested long-term regular investments in actively managed funds in order to help finance children as they go to university and marry.

It said a regular monthly investment of £50 since 1989 could be worth £27,000 by now.

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