50% of parents financially supporting adult children: Survey
(NewsNation) — Even when children are out of the nest, some parents are still contributing to their children's livelihoods.
According to a survey of 1,000 U.S. parents of adult children by Savings.com, 50% of parents are helping offset financial pressures.
The average amount given to adult children among those surveyed was $1,474 a month, a 6% increase from the 2023 survey results.
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Of those contributing, 83% help with grocery payments, 65% assist with cell phone bills, and 46% with vacations.
'While the average contribution to Millennials decreased slightly, a significant increase in support for Generation Zers pushed the overall average higher,' the survey said.
Among parents still in the workforce, they contribute 2.3 times more to their children's lifestyle — on average $1,589 — than to their monthly retirement savings contribution ($673).
'We've seen in recent years: the ongoing need to financially support struggling adult children is placing significant strain on many parents' financial security,' Beth Klongpayabal, the study's lead author, said in the release.
'This concerning pattern may face additional pressure if economic conditions worsen in the coming months,' she added.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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