Millennials Rely on Parents for Bills

Posted 57 days ago


A poll measured how many Millennials are getting their bills paid by their parents and found that nearly one-fourth got help with paying the rent.

The OnePoll survey conducted on behalf of Chartway Credit Union found that 24% of Millennials said their parents pay their rent.

That's slightly higher than the 19% of all adults who said their parents pay their rent. Another 19% of all adults said their parents pay for their groceries, while 16% said their parents pay for their utilities.

39% of Millennials said they struggled to find information and other resources to help with their finances, while only 11% of Baby Boomers said the same.

The survey found some regional financial differences as well.

69% of respondents in the Northeast said they earned money by helping their neighbors, but only 43% said the same in the Southeast.

Chartway Credit Union president and CEO Brian T. Schools said the poll showed that adults need more financial education.... (Read more)