More than three in 10 (35%) adults admit they still have at least one bill on their parents’ tab.
According to a new poll of 2,000, the top three expenses still paid by parents are rent (19%), groceries (19%) and utilities (16%).
In fact, almost one-quarter (24%) of millennials polled say their parents cover their rent.
About three-quarters of those respondents (72%) plan to take on these bills themselves within the next two years, but 30% admit they will be riding the wave until they’re told otherwise.
Another 31% are trying to save money, saying it is cheaper to stay on their parents’ plan.
Conducted by OnePoll on behalf of Chartway Credit Union, the survey showed that despite not managing all of their expenses, 85% of respondents consider themselves to be financially responsible.
Most respondents (65%) consider having a good credit score to be an indicator of financial responsibility but others weigh lack of debt (64%) and the amount they have in their savings (60%).
In an average month, respondents have six different bills and expenses.
TOP MONTHLY BILLS AND EXPENSES
- Groceries/food – 66%
- Electric/utilities – 56%
- Auto insurance – 48%
- Internet/cable – 46%
- Rent – 43%
- Streaming services – 42%
- Mortgage – 40%
- Cell phone service – 38%
- Monthly subscriptions – 36%
- Car payments – 35%
- Credit card payments – 31%