Parents are paying for bills and subscriptions including Netflix for a third of young adults, survey finds

• Parents contribute an average of £46.10 a month to their offspring’s coffers

A third of parents are paying bills and subscriptions for their adult children, a survey has found.

Streaming services such as Netflix were the most popular category, with some 35 per cent of 18 to 35-year-olds admitting to relying on the bank of mum and dad.

Around 32 per cent of the 1,000 adults polled admitted their phone bills were still paid by their parents.

Other bills paid include utility bills (30 per cent), housing costs (32 per cent) and even insurance policies (22 per cent).

Overall, parents contribute an average of £46.10 a month – or more than £550-a-year – to their offspring’s coffers, the survey by Virgin Media O2 found.

Streaming services such as Netflix were the most popular category, with some 35 per cent of 18 to 35-year-olds admitting to relying on the bank of mum and dad

Overall, parents contribute an average of £46.10 a month – or more than £550-a-year – to their offspring’s coffers

The study also found 26 per cent of youngsters feel guilty about taking money from their parents, while 38 per cent worry they might cut back their financial support in the next year.

It goes both ways though, with 37 per cent, of 18 to 35-year-olds, paying for some of their parents’ bills or subscriptions, according to the research, carried out via OnePoll.

TV streaming services (37 per cent), utility and phone bills (both 33 per cent) are among the most common things the younger generations cover for their parents.

The main drivers for this include being able to help and feeling like they should (38 per cent), wanting to show they love them, and wanting to give back (both 37 per cent) after their parents supported them growing up.

Top bills 18-35 year-olds have paid for by their parents 

1) TV streaming services

2) Housing costs

3) Phone bills

4) Utility bills

5) Insurance policies

6) Car insurance

7) Delivery services

8) Clothes

9) Sport subscriptions

10) Music streaming services

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