PANKs (Professional Aunt, No Kids) spend more than £350 a year on their nieces and nephews

As acronyms go, it’s a good one. PANK. It stands for ‘Professional Aunt, No Kids’. I’m a fully paid-up member of this group, a 40-something professional woman with little interest in kids of my own but an overwhelming love for my sister’s four-year-old daughter. Now I can’t pass a newsagent without buying the latest Peppa Pig magazine. Browsing the shelves in toy shops for Nemo and Dory has become a popular past-time. And I know all the words to the Sofia the First theme tune. New research, conducted by Opinium for Spectator Money, shows I’m not alone. PANKs lavish an average of £352 a year on their nieces and nephews, with some spending considerably more (yes, I’m in the latter camp). And two-fifths of PANKs (39 per cent) provide childcare for their sister’s and brother’s children. Whether it’s because they are delaying motherhood, focusing on their career or have no desire to have kids of their own, PANKs are happy to funnel their disposable income towards their nieces and nephews. Opinium Research found that most PANKs spend their money on material items. Gifts