Feb 15 • 15:00 UTC 🇩🇰 Denmark Politiken

Survey: How Much Do Parents Help Their Adult Children Financially

Two out of three parents financially support their adult children aged 18 to 29, according to a survey conducted by YouGov for Nordea.

A recent survey conducted by YouGov for Nordea reveals that two out of three parents in Denmark provide financial assistance to their adult children aged 18 to 29. This support persists even after the children have moved out of the family home. On average, children living at home receive 1,903 DKK per month, while those who have moved out receive about 1,059 DKK per month. The assistance is primarily directed towards covering expenses such as mobile phone subscriptions, food, and insurance.

Ida Marie Moesby, a consumer economist at Nordea, expressed surprise at the extent of the financial support given by parents to their adult children, even into their late twenties. She noted that the findings indicate a significant number of young adults may be experiencing economic pressure, leading to this financial dependency on their parents. This support is not necessarily indicative of parental pampering but rather reflects the challenging economic conditions that many young adults face today.

The survey results highlight broader socio-economic trends in Denmark, where young adults are moving out later due to high housing costs and other structural factors. The findings raise important questions about the financial independence of young adults in Denmark and suggest that parental assistance may be a necessary lifeline for many navigating an expensive and challenging economic landscape.

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