Millennials mooch off their parents now but plan to support them financially later
August 2, 2016 by Polly Mosendz
At the end of a trip home to see the family, even an employed millennial is occasionally slipped some cash from a loving, if somewhat concerned, parent. But in a couple years, many of those on the receiving end expect those roles to be reversed.
Laden with student debt and mounting credit card bills, some millennials currently rely on relatives to help pay for everything from student loans to cell phone service and clothing, according to a survey of 1,000 American adults commissioned by the Society of Grownups, a financial literacy group. The survey found half of millennials from the age of 21 to 29 receive financial support from relatives. Click HERE to read more… LifeHealthPro articles require free registration to view