You may not believe the age Millennials stop taking money from their parents

You may not believe the age Millennials stop taking money from their parentsYou may not believe the age Millennials stop taking money from their parentsHow long does it take before Millennials stop making regular withdrawals from the Bank of Mom and Dad? Longer than you think. The Ascent from the Motley Fool surveyed 1,003 Millennials about the touchy topic of relying on your parents money as an adult.Nearly two-thirds (63%) of Millennials are at least somewhat dependent on their parents. While a majority (72%) would like to be able to have their parents stop paying for their lives as soon as possible, nearly a third (28%) are in no rush to be cut off.Only 37% of millennials are financially independent from their parents, and of those, 56% feel prepared to handle their own financesMeanwhile, financially dependent millennials from ages 30-38 use their parents money to pay for 33% of their spending per month.Follow Ladders on FlipboardFollow Ladders magazines on Flipboard covering Happ iness, Productivity, Job Satisfaction, Neuroscience, and moraHere are the top things parents pay for in fullPhone bill 13%Car insurance 10%Health insurance 8% (Millennials arent covered on their parents plans after age 26)Rent/mortgage 7%Video/streaming services 7%Groceries 5%And heres what parents chip in for partiallyGroceries 12%Rent/mortgage 8%Student loan payments 6%Car insurance 6%Out-of-pocket medical costs 5%Phone bill 5%Surprisingly, their parents dont seem to mind paying only 22% of parents are pushing their children to be more financially independent.All this help made the recipients feel a variety of ways.Its a long and winding road financial help doesnt end when a child starts college, or end when they graduate. Student loan bills kick in, and entry-level job salaries are low. Rents are high in the cities that Millennials are increasingly flocking to, and it can be hard to get a raise.It might not come as a surprise that the average Millennial reaches financial indepen dence, on average, at the magic age of 31 years old.And heres the rub despite this independence, 43% of Millennials say they wouldnt pay their parents back (if they asked) for all those purchases since they turned 18. Were betting that their parents wouldnt think of asking anyway.You might also enjoyNew neuroscience reveals 4 rituals that will make you happyStrangers know your social class in the first seven words you say, study finds10 lessons from jngste im bunde Franklins daily schedule that will double your productivityThe worst mistakes you can make in an interview, according to 12 CEOs10 habits of mentally strong people