All right, if you're a parent,
you know this scenario right?
Open the wallet you're paying for something,
and when your kid is in
school even through college,
it's kind of expected that you
will pay as a parent for things.
But me when this happens. Let's see it.
If we've got it, if not, OK, there we go.
Out of college, they've got their own job.
Maybe their own kids do you.
As a parent, expect to be paying for things.
I want you to check out this
survey of 2500 people they ask,
do you receive financial support
from your parents? Of course,
Jen's ears are the highest percentage,
but that's expected, right?
Most are in high school or college,
28% though of millennials say
they get help from mom and dad,
including living at home with mom and dad.
14% of Gen X Rs get help with something,
whether that be a car payment or rent.
Or some help with bills.
OK, I can remember in my first job my
parents paying for my car insurance
for the first couple of years because,
well,
when they looked at my paycheck
like that was not gonna happen.
Yeah and they were like we're going to
help you until you make a certain amount.
So what do you think of these numbers
of those people getting help?
I don't see it as a shock to me.
My parents definitely
helped me when I first started working
and just a couple years ago they stopped
paying for certain bills because,
you know, sometimes when you leave
college you don't have an income, right?
You have to have a way to get started,
so I'm just. Thankful my parents did help me.
Yeah, I'm in the same boat. Yeah,
year or two. I think you know,
at least for me,
I need a little bit of help.
My parents didn't have a
whole lot to be honest.
My brother and sisters are like
15 years to 18 years older than me.
I would call them before I called
Mom Dad because they could help me.
Yeah, I know. I mean definitely
that that first job in journalism
you don't get paid a lot.
But even to this day, even though
my parents don't pay for anything.
Say I need a new dress or
something just to be nice.
My mom would do that.
In the news dressing. Yes
OK so interesting side
note about the gens ears.
The majority said they still
lived at home and the bill that
they most wanted help with
was their cell phone bills.
So Eric can you relate?
Yeah, so so. My twins,
you know they're obviously I'm
paying for their cell phone bill
what what I had them do was pay
for their car insurance. They were.
So their job was to the work that they did.
I think they worked at Chick-fil-A
for a couple years and their their
thing was you pay me for the car
insurance 'cause it's ridiculous and
then once you get in college then
now I take that over again 'cause
they got a lot of other expenses.
But yeah, that was it was difficult.
I understand the cell phone thing,
you take yourself their cell phone away.
You might as well cut their arms.
Cell phone. Is it alright?
Let me show you this next graphic because
the question was have your parents ever
supported you financially as an adult?
So we kind of had a little bit of this
conversation and there's everything
from they helped me pay for college.
They allowed me to live rent free.
They paid off some of my debt or even they
helped me with a down payment on a home.
But look at the green line that's at the
very bottom that is 44% say my parents
never supported me in any way and I'm.
Actually surprised by that.
Never ever, ever in any way
makes you realize how blessed you are.
That surprises me.
I just know my parents. They.
I know that if something were to happen,
I could always lean on them.
It's true, I remember
they pay for my college.
So for me that was huge.
I didn't understand how huge back
then until my dad had talked with me.
Here's what it costs,
but they didn't help me a lot after college,
but I never thought that was a thing.
I just thought I'm supposed
to work and make it work.
Yeah, I mean, my grandmother
actually is the one that helped us
put our down payment on our home.
So I mean, and that's something
right now I'm saving for for Baylor
to be able to have money in the
future to do things like that.
To do that. Yeah, all the furniture
that I have in my apartment right now
when I first got my first news job,
my parents bought all my furniture and
they said this is to get you started.
So once you move into your own home
then you can buy your own furniture.
Right, so thankful for that.
Yeah, a lot of different ways to get
help from the parents and the family.
Alright, I'm going to be putting
that magnify money survey in
the 210 section if you want to check it out
and look at it a little bit more closely.