[Puffer Fish]

More than half of adults 18 to 34 years old rely on some sort of allowance from their parents, according to a study released by the Pew Research Center. (in the United States)

Gen Zers 18 to 24 are most likely to depend on their parents for financial support. In fact, more than half of this cohort survive thanks to their parents helping to pay for basic household expenses.

Almost 1 in 5 adults aged 30 to 34 have their parents chip in for their household bills.

Overall, only about 45% of 18- to 34-year-olds are completely financially independent from their parents, the Pew survey found.

Most Americans agree that young adults today face more challenges than their parents' generation, particularly when it comes to saving for the future, paying for college, buying a home, and finding a spouse, a 2022 Pew Research Center study found.

"We're likely to see young adults continue to put off important financial and personal milestones because they just can't afford them," Matt Schulz, chief credit analyst at LendingTree, told The Post in 2022.

Most Gen Z and millennials are financially dependent on their parents: Pew report , Adriana Diaz, New York Post, January 25, 2024
https://nypost.com/2024/01/25/lifestyle ... ew-report/

Well Into Adulthood and Still Getting Money From Their Parents - Nearly 60% of parents provide financial help to their adult kids, a new study finds , Julia Carpenter, January 25, 2024, Wall Street Journal

A portrait of America's young adults: More debt burdened and financially dependent on their parents , Aimee Picchi, Alain Sherter, CBS News - Moneywatch, January 25, 2024
https://www.cbsnews.com/news/gen-z-mill ... rents-pew/


"Young Americans Struggle to Hit Adult Milestones"

Here's a link to an article about how certain "milestones", such as driving a car, moving out of one's parents house and renting an apartment, starting a family, or buying a home, are getting delayed among the newest generation of young people, compared with young people in previous generations (born between around 1935 to 1985).

Young Americans Struggle to Hit 'Adult' Milestones Story, Bloomburg, Natasha Solo-Lyons, May 2023
https://www.bloomberg.com/news/articles ... dependence

[Puffer Fish]

It's especially notable that a larger percentage of young adults are financially relying on their parents, when at the same time a lower percentage of them have cars than the previous generation.

threads:
Fewer young people can afford to have a car (posted in North America section, 27 May 2023)
In 4 years, U.S. home prices increased 69%, car prices 31% (Economics & Capitalism, 25 Aug 2023)

[Kingoffrogs]

Student Loan Debt and healthcare increase have walloped yankees' pocketbooks for a while now.