Michigan’s Gravy Train: Parents Monthly Aid to Adult Kids OVER 22

The First Bank of Mom and Dad is open for business in the state of Michigan and around the country. USA Today recently took a deep dive into the world of financial assistance for adult children over the age of 22, who are still receiving financial lifelines from their parents.

Related: Living on $1.25 an Hour: The History Of Michigan's Minimum Wage

In today's age of inflation, it shouldn't come as a shock that people north of the legal drinking age are still getting help from mom and dad, but how old is too old? At what age should an 'adult' be able to stand on their own two feet? According to the USA Today survey, that age is 24.

Staggering Number of Parents Contributing to Adult Children 22 and Older Financially

Depending on where you are in life, you may or may not be shocked to find out that 65% of parents are still bankrolling their adult children between the ages of 22 and 40. How much are they handing out every month?

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The average monthly contribution from parents to their grown kids in the United States is $718 per month (Michigan's average is much lower, more on that later). What may be even more shocking is that 1 in 3 of these generous parental units admits to putting themselves in financial turmoil to help out their adult children.

What Michigan Parents Are Doing to Help Their Adult Children

How are these 'children' being assisted by their parents? Groceries, cell phone bills, housing, and debt payoff are just a few of the unbilled services given to 'children'. Plus who needs a part-time job when you still have access to your folks Netflix and Hulu?

Related: Michigan Employment Spotlight: Lansing's Top 32 Employers

How much does the average parent shell out to a giant kid 22 plus in Michigan on average? Read on to see which state gives the biggest handout to adult children and where Michigan ranks for parental handouts.

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