Parents and kids are disagreeing about the right age to become financially independent. 

Parents and kids are disagreeing about the right age to become financially independent. Young adults may not become financially independent until years later than their parents did, which is causing some debate among young adults and their parents about what financial independence actually means. According to Bankrate’s Financial Independence Survey, young adults say 21-years-old is a good age to start paying some of their own expenses, while older generations believe their kids should already be financially independent by then. But in reality, Millennial and Gen Z are facing student loan debt and lower wages than their parents did in their 20s and 30s. As a result, 68% of parents with children over 18-years-old are making financial sacrifices to help support them, with some spending more than $1,400 a month on average. YPulse’s Finance / Spending Monitor report shows a third of Gen Z and Millennials say their parents give them money when they need it. (CNBC)