A Third Of Adults Still Rely On Parents For This
LauRen and her MIL
While many adults move out of their mom and dad’s house as soon as possible, according to SWNS, many still need their parents to help pay their bills. According to new research, just over a third (35%) of adults admit they still have at least one bill on their parents’ tab.
A survey of 2-thousand U.S. adults gives us a peek into their spending and saving habits:
- The top three expenses still paid by parents are rent (19%), groceries (19%) and utilities (16%).
- Nearly a quarter (24%) of millennial respondents say their parents cover their rent.
- Close to three-quarters of those polled (72%) plan to start paying these bills themselves within the next two years, but 30% confess they’re holding out until they’re parents stop paying.
- About a third (31%) say they’re trying to save money, but admit it’s cheaper to let their parents pitch in.
- In an average month, respondents have six different bills and expenses including utilities (56%), food (66%), car insurance (48%), Internet (46%) and rent (43%) or a mortgage (40%).
- Half of those surveyed struggle to limit unnecessary spending, as well as budgeting for unexpected expenses (45%) and remembering to pay bills on time (40%). But only 32% say they struggle with their taxes and 26% have a hard time keeping their credit score high.
- Despite all this, 85% of respondents consider themselves to be financially responsible.
Source: SWNS
LauRen Merola Strager is a former NFL & NBA cheerleader turned radio host. LauRen is a former Miss Pennsylvania USA and is a proud wife and mother of two. She is the owner and chief editor for her fashion and lifestyle Blog “All Of The F-Words” and is a champion for the Autism community. You can read all about LauRen’s thoughts on motherhood, pageant life, and everyday life through her online content.
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