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Chart of the Day: Percent That Give to Children

Bar graph illustrating the percentage of parents who fund, or are preparing to fund, certain financial events for their children, such as a first car or a wedding.

Contents

Today’s Chart of the Day is from Barrons with data from Ameriprise showing the percentage of Americans who fund or are preparing to fund certain financial events for their children.

Not surprisingly, nearly 80% polled say they are planning to assist their child when buying a vehicle and 70%+ will help pay for weddings. 

Based on similar studies I've seen, these percentages appear to be higher than in the past. Still, whether it's you or someone you know, the practice of covering expenses for one's children remains fairly common.