A recent study conducted by the Friedrich Ebert Foundation (FES) has shed light on the financial dependence prevalent among young adults. According to the findings, a significant 65% of young individuals admit to relying on others for their financial well-being.
Specifically, a noteworthy 46% of young people feel that they have been entirely “They are dependent on their parents” even though only 12% receive financial assistance from their parents or relatives. An additional 12% of respondents claim full financial reliance on their partners, while 10% depend on state aid for their financial support.
Surprisingly, a mere 38% of those surveyed report having independent sources of income, which may include salaries, loans, grants, or income from property rentals. The study also underlines how financial independence varies based on gender, location, and age. For instance, young men aged 25-29, especially those with higher education living in Tbilisi, are more likely to have their income compared to women aged 24 who reside outside Tbilisi and possess only a secondary education.
One intriguing aspect highlighted by the study is the prevalence of financial dependence among different age groups. Notably, a majority of respondents under the age of 18 are reliant on someone else for their financial needs. This trend continues, with 2/3 of individuals aged 18-24 experiencing financial dependency, and almost half of those aged 25 and older also relying on others for financial support.