Half of parents are still financially supporting adult children. Here’s why that could be a problem
Half of parents with a child over 18 provide them with at least some financial support, according to a report.
For parents, however, supporting grown children can be a substantial drain at a time when their own financial security is at risk.Throughout the pandemic, many adults turned to a likely safety net: their parents. From buying food to paying for their cell phone plan or covering health and auto insurance, half of parents with a child over 18 provide them with at least some financial support, according to aThese parents are shelling out roughly $1,000 a month, on average, on such expenses, the report found.
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