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|Fri, 05-27-2011 - 8:38am|
You grandparents are awesome, taking care of your grandchildren after having raised your own. Now there is a rather large percentage of children moving back in with their parents after graduating from college. So, you're not alone in continuing the support and cost of raising children after you thought you were done.
Less than half of these children help with expenses, do you have anyone helping you with the expense of raising your grandkids?Parents Give Kids Shocking Amounts of Money
We've all heard that today's twenty-somethings are more dependent on their parents for financial help than ever. Some 85 percent of this year's graduates plan to move back home after receiving their diplomas, according to the firm Twentysomething. Now, new numbers out from the National Endowment for Financial Education reveal just how heavily adult kids lean on their parents. Among the findings:
--23 percent of adults between ages 18 and 39 who are not students currently live with their parents. Men are significantly more likely to live at home than women are (27 percent versus 19 percent). (See "The Best Graduation Gift: An Invitation to Move Home.")
--Almost half of parents with adult children help pay for their living expenses.
--40 percent contribute to their adult children's transportation costs.