A recent survey shows that many adults admit that their parents still pay at least some of their bills.
Key Details
- Around 35% of adults say their parents still pay at least one of their bills.
- The top three bills still being paid by parents are rent 19%, groceries 19%, and utilities 16%, according to a new OnePoll survey of 2,000 Americans.
- About 72% of the respondents plan to take over the bills themselves within the next two years, but 30% say they will allow their parents to cover it until further notice.
Why it’s news
Since the pandemic, more millennials are opting to live with their parents to save money and aren’t in any rush to move out on their own.
According to the U.S. Census Bureau, about 18% of men and 12% of women ages 25 to 34 were living with their parents in 2022.
A new survey also shows that many adults still allow their parents to pay a portion of their monthly bills. The survey shows around 35% of adults say their parents still pay at least one of their bills.
The top three bills still being paid by parents are rent 19%, groceries 19%, and utilities 16%. Around 24% of millennials say their parents still cover their rent costs.
A large reason that many millennials are still living with their parents is to save money, and the same reason is reported for 31% who say their parents still pay their bills to allow them to save some money on their own.
The survey shows that despite their parents covering a good amount of their bills, 85% still consider themselves financially responsible.
