A new report indicates that more than half of American parents are still supporting their adult children. In fact, the average amount given is nearly $1,500 a month. Whether it’s still paying their phone bills, helping to buy groceries, or paying for an emergency repair, the Bank of Mom and Dad is always there.
Today, Beth Klongpayabal joins us on the On Your Side podcast. She’s the senior analyst at Savings.com. She explains exactly what parents are paying for, why and how it might be affecting their retirement.
April 14th, 2025, 12:00 am
Arizona’s Family On Your Side
The Bank of Mom & Dad
00:00
20m
Published April 14th, 2025, 12:00 am
Description
A new report indicates that more than half of American parents are still supporting their adult children. In fact, the average amount given is nearly $1,500 a month. Whether it’s still paying their phone bills, helping to buy groceries, or paying for an emergency repair, the Bank of Mom and Dad is always there.
Today, Beth Klongpayabal joins us on the On Your Side podcast. She’s the senior analyst at Savings.com. She explains exactly what parents are paying for, why and how it might be affecting their retirement.
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Arizona’s Family On Your Side
Whether it’s Arizona's housing market, car buying tips, cheap family vacations, how to avoid scams, or just saving money, Gary Harper, Susan Campbell, and the Arizona’s Family On Your Side team are here to make you a more savvy consumer.
