Household income and wealth 2018 edition
With Household income and wealth INSEE presents the main indicators and analyses on monetary inequalities, poverty and household wealth. More information is available only in French on the French pages of the website.
How much do young adults cost their parents?
In 2014, eight out of ten households with a young person aged 18 to 24 declared that they provided financial support to the latter, at an average of €3,670 per year. This amounts to an overall contribution of 8% of their total disposable income. The parents’ contribution, according to reported data, is highest (15%) when the young person is a student in higher learning with independent housing, but regularly returning home (semi-cohabitant). Conversely, it is lowest (3%) when the young person co-habits while also holding employment. While parents do adjust their assistance to the young person’s situation and resources, to a certain extent, the means available to the parents to support their young adults financially also determine the latter's decisions in terms of accommodation or further education.
In absolute terms, the amount of assistance and expenditure on young adults increases with the parents’ standard of living. It is five times higher in the top 10% of wealthiest parent households than the figure posted by the least wealthy 10% (€7,050 versus €1,310). However, the contribution rate is relatively higher in the lowest 10% of parents (13%) than in other households (less than 9%, with no other significant variation with respect to standard of living). Even in constant income terms, it is 50% higher when the parents are managers, a sign of social reproduction strategies.
Being separated or having other dependent children also has an effect on the assistance which parents of young adults provide. First of all, households with separated parents provide a similar level of contribution to those who have remained together when they do provide assistance, but are fewer in number doing so overall. They contribute lower amounts to help their children (–30% for single mothers), all other things being equal. Secondly, where the number of children is higher, the frequency of aid is lower, as is the parents’ contribution per young adult child.
Paru le :06/06/2018