Many parents of millennials (ages 25 to 34) are financially supporting their adult kids, paying some or all of their monthly expenses, including groceries, cell phone, and even costs related to owning a car.
These parents are also paying for bigger ticket items, such as making rent and mortgage payments and paying down student loans. Roughly a quarter of millennials say they receive financial support from their parents in these areas, with 13% saying their parents pay all of their rent or mortgage. And 10% of millennials say their parents are shouldering the cost of their student loans.
I say it’s the parent’s fault. They did a bad job of raising their children. More time should have been spent teaching them the value of a dollar.