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Bank of Mom and Dad paying out $1,474 a month on average to adult kids
['Joyce Lupiani']
Latest News | Fox LA
articleThe Brief Half of U.S. parents with adult children now provide regular financial support, averaging $1,474 per month.
83% of these parents help with groceries, 65% with cell phone bills, and nearly half even cover vacation costs.
Nearly 40% of parents say they plan to stop financially supporting their adult children within the next two years.
More adult children needing helpWhat we know:Half of parents with adult children in the U.S. are providing them with regular financial assistance, the report says.
On average, parents are contributing $1,474 per month—a 6% increase from last year.
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