IndianaLocalNews

Indiana ranks high for financially independent young adults

(Photo supplied/Pixabay https://pixabay.com/photos/money-home-coin-investment-2724235/)

A survey of parents of adult children shows that Indiana ranks high when it comes to young adults being financially independent from their parents.

USA Today surveyed 5,000 parents of adults ages 22 to 40 to learn whether they financially supported their children as well as their beliefs on children being financially supported once they are old enough to earn their own living.

The study ranked Indiana as the sixth state where adult children are being supported by their parents the least, with with 60 percent of Indiana parents reporting giving some form of financial support to their adult kids.

However, only about 13 percent of Indiana parents say they help pay off their kids debt, and the average age parents say their children should be financially independent is around 23 or 24.  

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