Nearly Half Of Millennials Get Money From Parents Every Month, Study Finds
MINNEAPOLIS (WCCO) -- A new study finds nearly half of millennials receive money from their parents every month.
The study, released by Money Under 30, found that 46% of millennials get some level of financial help from their parents on a monthly basis.
While parents aren't the only source of financial help for millennials, they are usually one of the first to be asked for cash when millennials are running low. Nearly half, 48%, say they turn to their parents first, followed by 13.57% taking out a bank loan and 4.99% saying they've taken money from friends.
About a third of millennials, 29.64%, say they have not asked for financial help.
For more on the survey, click here.
