AUSTIN, Texas—Most parents still help their kids with finances, according to a new report.
Seventy-four percent of parents with kids aged 18 and older give their children money for living expenses or debt, according to a new survey from Creditcards.com.
Married people are more likely to financially help their grown children than divorced or never-married parents. In the survey, 39% of parents help with cellphone bills, while 36% chip in for transportations costs, and 10% contribute to personal loans, The Business Journals stated in its analysis.
Men are more likely than women to help their kids out, especially with rent. Parents older than 55 are the most likely age group to help with debt, while parents between the ages of 35 and 54 tend to help with living expenses, The Business Journals stated.