Do Your Parents Support You Financially?
It’s surprising to me how many of my friends in their 30’s and older still receive financial support from their parents. I’m not casting judgement or jealousy- I’m just surprised.
I grew up in a home where it was made clear to us from a young age that once we moved away from home, figuring out our finances was our responsibility and that mom and dad wouldn’t be bailing us out. Our parents told us that we’d go through good times and we’d go through really bad times, but that we had to manage our money issues without their help because some day they wouldn’t be around to handle our problems and we needed to be able to fend for our own.
Trust me, there have been plenty of times in the last two decades that I’ve lived on my own when I wished my parents would help me. I’ve dined on cans of cold spaghetti-o’s and slept in layers of clothes under tons of blankets more times than I can count in an attempt to pinch pennies. It’s never been fun having money problems, I mean- is it ever? However, I’ve been able to look back on those bleak times and can see how I needed to go through those rough patches to prepare me for bigger things- like being a parent and making financial sacrifices so that my son is provided for.
Do your parents help with finances? Maybe they toss you a couple bucks for your rent or mortgage. Maybe they pay your insurance or give you cash for groceries. If so, you’re definitely not alone. A recent study found that 35% of adults between the ages of 25 and 41 get some kind of financial help from their parents.