th images menu user export search eye clock list list2 arrow-left untitled twitter facebook googleplus instagram cross photos entrep-logo-svg

Study Shows Many Parents Still Give Financial Support To Grown-Up 'Kids'

Can you see yourself still getting an allowance when you're over 30?
By F. Valencia |
Study Shows Many Parents Still Give Financial Support To Grown-Up 'Kids'

When does a parent's duty to provide financial support to their fully functioning adult children end?

 

A consumer survey done by market research firm Kantar TNS reveals that "one out of every two parents across the globe supports children well into adulthood, with some of them unable to cut the financial umbilical cord even when their kids turn over 30," reports Doris Dumlao-Abadilla in Philippine Daily Inquirer.

 
 

The consumer survey was commissioned by HSBC for "The Power of Protection Study: Facing the Future."

 

The report notes: "The research represents the views of 13,122 people aged 25 and up who were surveyed by market research firm Kantar TNS across 13 countries and territories between March and May 2017."

 

It's worth noting that among the parents who support adult offspring, 61 percent "recognize that their children should already stand on their own feet financially." Yet, these parents sometimes still end up paying even for their children's vacations.

 

The report further points out that "parents in Asia and the Middle East are generally far more likely to subsidize children into adulthood than those in Europe and the Americas."

 

Kris Werner, the head of HSBC Philippines, suggests that Filipino parents still support their fully functioning adult children because family is the "most important social group in Filipino culture." It's "almost natural" then for the parents to still be the providers, with many of them feeling good about it.

 

 

 

*****

 

This story originally appeared on Cosmo.ph.

* Minor edits have been made by the Entrepreneur.com.ph editors.

 

Latest Articles

What Opportunities are Investors from Other ASEAN Countries Seeing in the Philippines?

A look at the biggest projects registered by Southeast Asian firms with the gov't in the last 6...

byPauline Macaraeg | November 19, 2017 09:00:00

10 Commandments of Successfully Managing a Business Crisis

Commandment number one is beginning preparing before anything has gone wrong

byTor Constantino | November 19, 2017 08:00:00

Help Is on the Way! (for 5 Common Obstacles Every Entrepreneur Faces)

A little creative thinking can solve big problems

byThomas Smale | November 19, 2017 06:00:00

10 Ways You're Being Tracked Without You Knowing It

Everything we do online and with technology leaves a footprint

byNina Zipkin | November 19, 2017 02:00:00

How to Teach Your Daughter Girl Power, According to This Self-Made Billionaire

Teach these lessons to your girls so they can grow up to be strong, confident and happy

byKitty Elicay for SmartParenting.com.ph | November 19, 2017 00:00:00

How Much Does it Cost to Review for the Bar Exams in the Philippines?

The fees vary but are roughly equivalent to new college graduates’ average starting monthly salary

byElyssa Christine Lopez | November 18, 2017 09:00:00

The 3 Types of People at Work Who Waste Your Time and How to Deal With Them

Do any of these time suckers work at your company? Here's how you can avoid them

byDan S. Kennedy | November 18, 2017 08:00:00

by |

5 Big Mistakes Young Entrepreneurs Just Keep Making

The reality of running a high-growth startup is that the company is your boss

byDeep Patel | November 18, 2017 06:00:00

Entrepreneurs Aren't Risk-Seekers -- They Just Handle Risk Better

Managing risk is in entrepreneurs' DNA

byJohn Suh | November 18, 2017 02:00:00

Billionaires Are Teaching Their Kids Mandarin and You Probably Should, Too

There's a reason Mark Zuckerberg learned Mandarin

byYsa Singson for Cosmo.ph | November 18, 2017 00:00:00

Hershey Hilado, Homeless Ilongga Turned Aussie Millionaire, Topbills Speakers at Nov. 18 Entrepreneurship Conference

Event in Miriam College Quezon City is part of Global Entrepreneurship Week celebration in the...

byPauline Macaraeg | November 17, 2017 10:00:00