A third of young adults say they helped their parents financially in the past year

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January 24, 2024

2. Financial help and independence in young adulthood

A third of young adults say they helped their parents financially in the past year

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A third of young adults say they helped their parents financially in the past year

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2. Financial help and independence in young adulthood
Parents and young adults differ in views of how well parents prepared them for adulthood
Fewer than half of adults under 30 say that they are completely financially independent from their parents
About half of adults ages 18 to 24 say they get financial help with household expenses, cellphone and streaming bills
About half of lower-income parents who helped their adult children financially say this hurt their own finances
Most young adults who live with parents report making financial contributions
Most young adults who live with a parent say this has had a positive impact on their personal finances

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