Why are adult children sponging off their parents?

Grown-up children just won't leave home.
Grown-up children just won't leave home. innovatedcaptures

THEY'VE graduated from university and have a job, but mum and dad are still supporting them financially. 

A "sponge society" of adult children receiving financial assistance from their parents is alive and thriving across Australia, according to a new investigation into the money habits of adult Australians by, one of Australia's largest comparison websites .

A study of more than 1,700 Australians commissioned by  found that 86 percent of parents provide financial help to their adult children, with lending money and cash handouts the most popular ways they contributed financially.

Free or low rent, paying bills and significant purchases like holidays, white goods or even purchasing a house for them are also some of the ways parents are helping their adult offspring.

Queenslanders are most likely to receive a "once-off" helping hand from their parents and are most likely to feel embarrassed by the financial help - 22 percent feel embarrassed compared to the national average of 19 percent.

Topics:  parents toowoomba

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