"Empowering Parents to Foster Financial Independence in Young Adults"

A recent survey by Experian reveals that more than half of young adults between the ages of 18 and 42 still rely on their parents for financial support, with two-thirds feeling ashamed about it. The study highlights the struggles young people face in achieving financial independence, including impulse spending. Experts suggest that parents can help their adult children become financially independent by gradually reducing financial support, teaching budgeting skills, and seeking outside help from financial planners or budgeting apps. Setting boundaries and giving adult children responsibilities can also foster independence and life skills.