> Parents in these U.S. states are helping their adult children the most financially
Parents in these U.S. states are helping their adult children the most financially
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Many parents know financial support doesn't immediately end when their child turns 18. They also don't always move out right away. A new survey by USA Today shows more than half of American parents in 36 states continue to help out their kids well after they become adults themselves. Parents are primarily paying for groceries, the survey said.
But parents in California are entertainment subscription services, cell phone bills and helping to pay off their debt.
Are Americans paying their grown children's bills?
The short answer, yes. According to USA Today, 61% of California parents still financially support their adult children. But some parents CBS 8 spoke with don't really mind it.
"My wife loves it. She has her babies home," San Diego resident Bob Gerard said with a smile on his face.
Ana Martinez says her 30-year-old son works, pays bills and she's glad he's still around.
How much money do parents give adult children?
Older generations used to instill in their children that they were on their own after they became a legal adult. But this study showed Californian parents were some of the top in the country to give their kids money on a regular basis. They surveyed 5,000 parents of adult children, between the age of 22 and 40.
California ranked in fourth place regarding how many adult children are still supported by their parents. On average, the study says parents give their children $870 a month to help make ends meet.
Alex Cruz is a sophomore at San Diego State University. She said she's still living rent free under her parents roof. They also pay for her gas. She's not alone.
"My friend lives in La Jolla," she said. "He gets $300 a week allowance."
Cruz's parents help her for a good reason, she said.
"They get mad at me when I spend money on useless things because they want me to save my money," she said. "That's why they're helping me out now."
FULL STORY: https://www.cbs8.com/article/news/local/california-parents-are-financially-supporting-their-children-heres-how/509-aabc0298-4a49-4509-b575-64a221162526