I hope everyone reading this article tells your parents you appreciate them because the latest research shows that some of you are getting a lot of help from your aging folks.

A recent survey by USA Today found that 65% of Parents in the United States are giving their children between 22-40 years old some form of financial assistance.  The average monthly amount that aging are giving their adult kids is $718.

Further research has reveal that one in three parents surveyed who are financially supporting their fully grown children admitted to USA Today that this puts a strain on their own financial stability.

How Much Are New Jersey Parents supporting their Adult Children

When USA Today ranked each state by how much total support parents are giving their Adult Children, New Jersey landed as the second highest on the list.  According to their survey results, New Jersey parents are among the most likely to help their kids over the age of 22 with paying off their debts.

Even though New Jersey Parents provide less literal money to their fully grown kids each month ($583.30 lands the Garden State at 19th on that list), these parents are supporting their adult children in other ways.  On the list of ways Parents are supporting their children over 22 years of age includes:

*Buying Groceries
*Keeping the kids on the parents' phone plan
*Pay for utilities like the Electric Bill
*Cover medical bills and/or health insurance
*Pay for Streaming Services like Netflix, Hulu, etc
*Take care of Car Insurance and/or Car Payments

What is interesting about USA Today's survey results is that New Jersey's neighboring states are much lower in the rankings than you would expect.  This research suggests that parents in other states don't find it as necessary to financially help their adult children as parents in The Garden State.

The state of New York is 12th in the rankings and Pennsylvania is 35th in the rankings.  For context, we must remember that New Jersey residents pay the third most for Household Expenses in the United States, so for many of these parents there are some unavoidable reasons why they feel they must help their Adult Children.

Imagine if these New Jersey could put their money towards retirement instead of having to help their Adult Children, they could move to one of these counties:

LOOK: Best counties to retire to in New Jersey

Stacker compiled a list of the best counties to retire in New Jersey using data from Niche.

Gallery Credit: Stacker

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