By Steve | AWayOutOfDebt.com
Let’s talk about something that might feel a little too real if you’re a parent with grown kids… or a grown kid trying to make it on your own.
According to a new report from Savings.com, half of all parents with adult children are now providing them with financial support. That’s the highest it’s ever been — up from 45% in 2023.
And get this:
They’re spending $1,474 a month on average. That’s nearly $18,000 a year — money that could be going toward retirement, paying down debt, or building up an emergency fund.
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Why Are Parents Supporting Adult Kids?
Let’s be honest — adulting is expensive.
Between rent, groceries, student loans, and gas that feels like it’s being priced by Rolex… it’s no wonder so many young adults are leaning on their parents for support.
The report found that parents are helping out with everything from:
- Groceries
- Cell phone bills
- Health insurance
- Auto insurance
- Rent or even mortgage payments
And it makes sense. Young adults today face:
- Lower inflation-adjusted wages than previous generations
- Higher student loan debt
- Rising housing and living costs across the board
So yeah… it’s tough out there.
But Here’s the Catch: It’s Hurting the Parents, Too
According to the same report, 60% of parents say they’ve sacrificed their own financial stability to help their adult children.
Some have cut back on saving for retirement. Others are dipping into emergency funds or taking on more debt themselves.
And here’s the kicker: 18% of parents don’t see an end in sight.
As in, they think this financial support could continue… indefinitely.
That’s a tough spot to be in — emotionally and financially.
So What Can You Do?
If you’re a parent supporting an adult child (or considering it), here are a few things to keep in mind:
✅ Put your own mask on first. You can’t help your kids if your own financial life crashes. Prioritize your retirement savings and emergency fund.
✅ Give with a plan. Set clear limits. Maybe it’s a fixed amount or a set time period — like 6 months of help while they get back on their feet.
✅ Talk it through. Have an open, honest conversation with your kids about budgeting, career moves, and what financial independence actually looks like.
✅ Don’t feel guilty. Supporting your kids doesn’t have to mean giving endlessly. Sometimes, helping means teaching them how to help themselves.
The Bottom Line
It’s great to want to help your adult kids — especially in a world that feels more expensive by the day. But don’t do it at the cost of your own stability.
Remember: your financial health matters too. And setting boundaries doesn’t make you a bad parent — it might actually be the best thing for both of you.
💡 Need a Fresh Start?
If you’re trying to get your own finances in order, we’ve got you covered.
👉 Download our free Debt-Free Checklist over at AWayOutOfDebt.com — it’s a great place to start your comeback story.