Half of Gen Z and Millennials are still relying on their parents’ money. Averaging a contribution of almost $1.5K a month, 50% of these gens’ parents are helping cover the costs of things like groceries, cell phone bills, and even vacations. But they’re not necessarily handing out money without expectations. Most parents attach conditions to their financial support, requiring their adult children to hold a job (48%), pursue education (45%), and contribute to household expenses if living in the same house (26%). But as it gets harder for these gens to save—78% of 18-39-year-olds report struggling to save money due to the current economic climate, according to YPulse—this financial support is stretching parents thin, and 40% say they plan to cut off funds within the next two years. (Newsweek)
👀 Read more from YPulse: Actually, Most Young Adults Are Not Living Home with Parents
