Millennials aren’t moochers – it’s just a lot harder for them to become financially independent at the same pace their parents did, a new survey says.
Both Millennials and their parents agree on that, according to a USA TODAY/Bank of America Better Money Habits survey of 1,000 Millennials, 18-34, and 1,005 parents of Millennials.
Today’s young adults are three times as likely to say they got a lot of financial help from their parents when they were starting out, compared to what their parents say they got at the same age – 36% vs. 12% – the survey finds. And 40% of Millennials say they still get money from their parents; the majority are younger Millennials, 18-25, but 22% of 26-34 year-olds say they receive financial help. Even among Millennials who are married or living with a partner, a fifth continue to get help paying for things.
Read all about it, and watch the video at http://www.usatoday.com/story/money/personalfinance/2015/04/21/millennials-getting-help-from-parents/25812211/?hootPostID=1518f862e9af1a2f3abab6e810396b1b