85% of Adults Think They’re Financially Responsible . . . But 35% Still Rely on Their Parents to Pay Bills?
If you’re wondering if kids are learning enough about MONEY, just ask them if they think it’s “financially responsible” to remain on their parents’ cell phone plan. And that goes for more than just “kids.”
In a new survey, 85% of adults of all ages see themselves as “financially responsible” when it comes to things like credit scores or savings.
But 50% say they struggle with unnecessary spending or unbudgeted expenses, and 40% struggle to remember to pay bills on time. AND they aren’t even paying all their own bills.
35% of all adults admit that their parents are paying or contributing to “at least one” of their bills. 19% of them say their parents help cover their rent . . . another 19% say they chip in for their groceries . . . and 16% say they help with utilities.
They didn’t break it down by age . . . but naturally, the blame probably skews more toward younger adults. 24% of Millennials say their parents cover their rent. Roughly, Millennials are between the ages of 26 and 41.
It’s surely even higher for Gen Z.