Nearly 50% of Millennials Take Financial Help From Their Parents
Parents help their kids in a variety of ways, and that includes financial support, even when their children get older. Nearly half of millennials (46%) get some level of financial help from mom and dad on a monthly basis, according to a new survey released by Money Under 30.
Parents aren't the only source of financial help for millennials but they're the top pick to ask for help when kids are a little short of cash. Almost half (48%) of those surveyed turn to their parents first, followed by 13.57% who have taken a bank loan, 4.99% who have taken money from friends, and 3.79% who ask their grandparents for money. About a third (29.64%) have not asked for financial help.
Millennials are most likely to get help from mom and dad in paying their cellphone bills. Image source: Getty Images.
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