Just because your adult children have jobs and moved out, doesn’t mean they are financially independent.
A new survey by instamotor.com found that nearly a quarter of millennials who work full-time say their parents pay at least one of their bills.
80-percent of those who received financial help from mom and dad don’t live at home.
Here are the most common bills millennials are getting parental assistance with:
- Cell phone 53%
- Car Insurance 31%
- Car Payment 30%
- Utilities 30%
- Rent/Mortgage 27%
- Health Insurance 18%
- Student loans 18%
- Credit Card 17%
- Other 5%
Even if your millennial children haven’t asked for help, it doesn’t mean they won’t. Almost 85% believe their parents would help them if they had a financial emergency like car trouble or medical expenses.
Nearly 63% say their parents have or would help them pay for their wedding.