Bank of America released its first-ever year-end millennial "snapshot"
that takes a look at our generation's view of its finances. One point that really stood out? Most of our parents don't believe we'll ever achieve economic independence: Almost half (46%) think they will be providing their children with financial assistance indefinitely. Millennials feel a bit better about their future, with only 28% thinking their receive parental support forever.This story originally ran on October 19, 2015.
If we’re being frank about money, many of us have to admit to relying heavily on our parents, even if we think of ourselves as grown-ass adults who are gainfully employed and financially stable. Depending on how much they’re willing to provide, parents can be the ultimate monetary safety net — maybe they pick up monthly cell phone bills, sort our taxes, or buy us countless dinners. These are such selfless acts of love, especially when we think about how these parental payments often go unnoticed.
Of course, relying on parents for help is not the case for everybody; there are plenty of resilient young people who have always handled money matters independently. Color us impressed. And that just makes the rest of us that much more grateful that our families are able to help.
Ahead, we asked women to take a moment to come clean about the many ways their parents still support them. Surprisingly, many of us have no shame in admitting that we still receive a generous amount of financial aid from mom and dad. If you're one of the lucky ones, let this story serve as a reminder to thank your parents more often. As we can all agree, a little (or a lot of) help truly goes a long way.