Will the kids ever leave home?
Thursday, November 22, 2007/
A new study has shown that some people are relying on their parents for support for a long time.
Almost one in four older Australians is helping to finically support their adult children or other relatives. And 6% of people aged 75 and over were still given their children spending money, according to a report by the Australian Institute of Health and Welfare.
Support goes both ways, but most is flowing in favour of the young ones. Help to pay bills, spending money and money for housing and big cost items were the most popular forms of support.
Parents commonly let their children borrow their car or drove them around, and many allowed their children to live in the family home.