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94 per cent say it’s worth every penny spending their money on their adult offspring
However, it’s not just the big things parents are helping pay for. 54 per cent say they pay for all or some of their adult child’s phone bill.
94 per cent say it’s worth every penny spending their money on their adult offspring, 63 per cent admit they have sacrificed their financial security for the sake of their children. 8 per cent have admitted to coming out of retirement to help support their adult children, while 14 per cent have refinanced their home.
“When emotions and money become intertwined, parents risk making financial decisions that can compromise their financial futures,” states the report.
“These financial contributions add up, and many parents aren’t aware of how much they’re spending on their adult children.”
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[post_title] => The stage of parenting that is most expensive, study finds
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