Half of US parents still financially support their adult children, survey finds
FILE IMAGE - U.S. dollar banknotes are pictured in a file image dated March 2, 2022, in Jakarta, Indonesia. Photographer: Dimas Ardian/Bloomberg via Getty Images Between food, health insurance, rent, cell phone, and other expenses, the bills can add up — and more young adults seem to have turned to their parents for help during the COVID-19 pandemic.
In fact, a recent survey found that half of U.S. parents with a child 18 or older still provide them with at least some financial support — and 26% said this has increased since the start of the pandemic.
On average, these parents are shelling out about $1,000 per month for various expenses, according to the findings.Groceries, cell phones, rent or mortgage, health insurance, vacations, car expenses, and tuition were among the top categories in which parents were found to financially help their adult kids.
The survey, conducted by Savings.com, also found that 62% of adult children living with their parents don’t contribute at all to household expenses.
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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