Lifestyle

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

Can you see yourself still getting an allowance when you're over 30?
IMAGE unsplash.com
Comments

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."

ADVERTISEMENT - CONTINUE READING BELOW

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 Esquiremag.ph editors.

Comments
View More Articles About:
About The Author
F. Valencia
View Other Articles From F. Valencia
Comments
Latest Feed
 
Share
A Chinese vessel rammed into a Filipino fishing boat, and then abandoned its 22 fishermen in their sinking boat at sea.
 
Share
The track-inspired collecton drops June 27.
 
Share
Your favorite wrestling superstars will beat each other up in the Philippines in September.
 
Share
The personalized and superior construction of custom-made shoes equal better wear and very happy feet.
 
Share
In 1992 the Pearl Jam frontman connected with a woman after his concert. Last week he found her again.
 
Share
From thick to thin, New York to Neapolitan, stuffed crust to Hawaiian, the options for the best pizza in Manila are aplenty.
 
Share
Facts about our National Hero that may have been overlooked in the teaching of history in classrooms.
 
Share
This idea has upset Piers Morgan for some reason.
 
Share
The Shazam! star made a splash in some great looks for his biggest-ever night as master of ceremonies.
 
Share
Google celebrates the 158th birth anniversary of Philippine National Hero Jose Rizal with a Doodle.
Load More Articles
Connect With Us