{"id":28403,"date":"2020-10-19T08:48:57","date_gmt":"2020-10-18T19:48:57","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=28403"},"modified":"2020-10-19T08:48:57","modified_gmt":"2020-10-18T19:48:57","slug":"bank-of-mum-and-dad-slightly-less-generous-than-before-covid-19-crisis-survey-shows","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/bank-of-mum-and-dad-slightly-less-generous-than-before-covid-19-crisis-survey-shows\/","title":{"rendered":"Bank of Mum and Dad slightly less generous than before COVID-19 crisis, survey shows"},"content":{"rendered":"

PHOTO: The ‘Bank of Mum and Dad’ is slightly less generous than before the COVID-19 crisis, a survey has found.<\/strong><\/p>\n

Parents are slightly less likely to help their adult offspring financially now compared with last year, a new survey found \u2013 but the \u201cBank of Mum and Dad\u201d is turning into a restaurant.<\/p>\n

More than half of the Australian parents with adult children paid for their children\u2019s groceries \u2013 up 14 percentage points\u00a0from December 2019, a survey by Finder found.<\/p>\n

\u201cThat\u2019s probably related to COVID,\u201d Finder insights manager Graham Cooke said. \u201cYou\u2019ve got a lot more people living at home, you\u2019ve got a lot more of the younger generation being affected by the job losses we\u2019ve seen in the hospitality industry.\u201d<\/p>\n

About one in four adult children moved back in with their parents in the first wave of the pandemic, a\u00a0previous survey\u00a0found, as the health and economic crisis unfolded.<\/p>\n

Overall 44 per cent of parents said they subsidised their adult children, down from 54 per cent in December last year when the economy was stronger.<\/p>\n

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