Roughly 1 in 4 millennials say their parents cover their rent, a new poll conducted by OnePoll on behalf of Chartway Credit Union found.
“About three-quarters of those respondents plan to take on these bills themselves within the next two years, but 30 percent admit they will be riding the wave until they’re told otherwise,” according to the report.
But despite enlisting their parents’ financial assistance, 85 percent of those polled say they are responsible with money. Seventy-three percent report opening their first bank account by the time they turned 25 years old, and 21 percent say they had a bank account before they turned 18. Whether they had a bank account or not, 30 percent of respondents say they had their own money to spend by the time they were 15 years old.
Half of adults did say they struggle to tamp down on frivolous spending, and 45 percent say they do not handle unexpected expenses well. Forty-percent say they struggle to pay their bills on time. Those poll struggle less with taxes and keeping a high credit score .
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