hairylunch (hairylunch) wrote,
hairylunch
hairylunch

It's a good thing I still have 10 years . . .

So, this article from the Michigan Daily reviews a study out of the University of Michigan that found that parents are now supporting their kids financially till age 34, and the amount of aid has gone up 13% since the 1970s. They found that the average parent spends $35,000 on a child between the ages of 18 and 34. For families in the top one-fourth of the income bracket, the figure is $70,000 for those years.

I wonder how much my parents have invested in me since I turned 18. The biggest item is of course my car. I have no idea how much my parents paid for my vehicle, but a 2003 Civic EX is about $18k. Add in insurance (both auto and health) over the last 6 years, and we're easily at $25k I'd guess. They give me some money when I started my AmeriCorps*VISTA year, and they've done the standard parent thing of giving me money when they see me, letting me live at home for a few months, and buying miscellaneous odds and ends since then, so I would estimate the total at $30,000 since I turned 18. Wow, that's a lot of money. I would guess for most people, tuition and school related expenses are where most of the aid comes in (for those who go to college) and during the transition from school to work. Looks like my parents are on pace to hit $70,000 by the time I turn 34, since the study did find that aid trickled off as one got older . . .
Subscribe

  • new digs

    I've moved to https://ernieseruditions.wordpress.com/! I've been on LiveJournal since the navel-gazing days of blogging, even paying for a…

  • Portland and Protests

    Truth is complicated. Memes and tweets serve as news for many today, and folks cherry pick their sources and the items they want to believe.…

  • Random Thoughts

    Lots of time to listen to podcasts and think/process these days . . . a few items that have been percolating in my brain ... Being a poet/imposter…

  • Post a new comment

    Error

    default userpic

    Your reply will be screened

    Your IP address will be recorded 

    When you submit the form an invisible reCAPTCHA check will be performed.
    You must follow the Privacy Policy and Google Terms of use.
  • 0 comments