Parents Financially <br />Supporting Gen Z , Highlights Current , Economic Woes.<br />'Newsweek' reports that a recent <br />survey found that 47% of parents are<br />financially supporting their adult Gen Z children.<br />While this number includes everything from <br />credit card bills to vacations, another 60% said <br />they are still covering their kids' monthly rent.<br />Overall, the survey by Savings.com found <br />that parents are paying twice as much for their <br />adult children than they are contributing to their retirement savings every month.<br />The survey found that parents are contributing <br />an average of $1,384 per month to their <br />kids, and just $609 to their savings.<br />'Newsweek' reports that while some may accuse <br />Gen Z of mooching off their parents, analysts suggest <br />it may be a sign of the current state of the economy.<br />Amid surging rent and food prices, many <br />Gen Z-ers are entering low paying jobs <br />while also shouldering massive student debt.<br />There is a clear challenge in <br />the economy today. Driven by <br />a convoluted mix of socioeconomic <br />factors, adults receive help from <br />their parents well into their <br />twenties, thirties, and beyond, Beth Klongpayabal, Savings.com's <br />analytics manager, via 'Newsweek'.<br />For some, it's tempting to simply <br />say that today's young adults are <br />just mooches and that a strong foot <br />in the rear will launch them into <br />normal, independent adulthood, Beth Klongpayabal, Savings.com's <br />analytics manager, via 'Newsweek'.<br />For some, it's tempting to simply <br />say that today's young adults are <br />just mooches and that a strong foot <br />in the rear will launch them into <br />normal, independent adulthood, Beth Klongpayabal, Savings.com's <br />analytics manager, via 'Newsweek'.<br />That may be gratifying for parents <br />who are tired of footing the bill, <br />but it doesn't solve or even <br />properly describe the economic <br />factors at play, such as <br />rising housing costs, Beth Klongpayabal, Savings.com's <br />analytics manager, via 'Newsweek'.<br />'Newsweek' reports that many parents are also facing <br />job insecurity and record amounts of debt, painting <br />a dire picture of a multigenerational economic crisis.<br />'Newsweek' reports that many parents are also facing <br />job insecurity and record amounts of debt, painting <br />a dire picture of a multigenerational economic crisis
