Percentage of parents financially supporting adult children reaches a three-year high
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...
Read more at savings.com