20% Of Millennials Still Get An Allowance From mum And Dad

The Pew Research Institute just released an eye-opening study on the state of the so-called “boomerang” generation–the wave of 20-somethings that a poor economy has driven back home with mum and Dad.

What’s interesting about Pew’s findings is that other than a few factors, boomerangers are just about evenly split between men and women (40 per cent to 38 per cent) and socioeconomic status is hardly a clear indicator of financial success. 

In fact, more than one-third of millennials at home said they’re currently employed.

Here’s what else Pew found out:

More than half of young adults aged 18-24 live at home or moved back in with their parents due to the economy.

Nearly one out of five every adults regularly receives some sort of an allowance from their parents or family members.


Photo: Pew Research

Income doesn’t have much to do with it.
“Parents with annual household incomes of $100,000 or more are just as likely as those with incomes under $30,000 to say their adult child has moved back home because of economic conditions,” according to Pew.


Relationship strains between boomerangers and their parents are far more common for adults in their mid-twenties.

Now read how one millennial was demolished by student loans >

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