There are a LOT of reasons that this is happening.
Archive: https://archive.today/jQSFg
From the post:
>The average amount these parents give also reached a three-year high at $1,474/month, but 40% plan to cut off funds in the next two years.
Let's face it—adulting is expensive these days. With economic pressures hitting younger generations hard, more and more adult Americans are turning to an age-old financial institution: their parents.
This trend of parents bankrolling their grown kids took off during the pandemic, and at Savings.com, we’ve been reporting on it since 2022.
For our fourth annual report, we surveyed 1,000 parents of adult children. We wanted to know how much money flows from parents to grown kids, what they're spending it on, how this affects their financial health, and how far the “Bank of Mom & Dad" is willing to go to keep their adult offspring afloat.
There are a LOT of reasons that this is happening.
Archive: https://archive.today/jQSFg
From the post:
>>The average amount these parents give also reached a three-year high at $1,474/month, but 40% plan to cut off funds in the next two years.
Let's face it—adulting is expensive these days. With economic pressures hitting younger generations hard, more and more adult Americans are turning to an age-old financial institution: their parents.
This trend of parents bankrolling their grown kids took off during the pandemic, and at Savings.com, we’ve been reporting on it since 2022.
For our fourth annual report, we surveyed 1,000 parents of adult children. We wanted to know how much money flows from parents to grown kids, what they're spending it on, how this affects their financial health, and how far the “Bank of Mom & Dad" is willing to go to keep their adult offspring afloat.
(post is archived)