RBC survey: Majority of Canadian parents financially support adult children, often for basics

# What the new survey says A July Ipsos survey conducted for the Royal Bank of Canada found that 51% of Canadian parents provided financial help to an adult child in the past 12 months. The average amount parents report giving is $6,151. The survey covers parents with adult children aged 18 to 40 and breaks down both the recipients' ages and the types of assistance provided.

# Who is getting help and how much Helping is concentrated among younger adults but extends well into the 30s. The report states 68% of parents with children aged 18–24 provided support, and 37% of parents with children aged 35–40 did the same. Nearly one in five parents (18%) who gave money reported amounts in the $10,000–$19,999 range.

Most of the financial transfers cover everyday needs rather than discretionary spending. Among parents who provided support:

• 56% helped with groceries.
• 24% helped with rent.
• 21% helped with utilities.
• 43% helped with an unexpected emergency or expense.
• 12% helped with credit card or other debt payments.

The RBC phrasing used in reporting describes this pattern as a new kind of "Family Plan," with parents subsidizing basic living costs for grown children.

# Effects on older generations The survey and related RBC research identify strain on older family members. A 2024 RBC study found 21% of grandparents were supporting at least one adult child over age 25, and 30% were sending money to grandchildren. Of those grandparents who are supporting adult children, 54% said they were sacrificing savings and 33% said they worried about running out of money. The report also notes 70% of grandparents felt their adult children expected them to help cover basic living expenses.

# Connections to fertility and household decisions

# What the data implies for families and finances

• Parents face longer-term commitments to cover living costs for children who remain financially dependent into their late 20s and 30s.
• Older generations, including grandparents, report dipping into savings or feeling financially vulnerable because of expectations to provide support.

These trends intersect with housing affordability and concerns about raising children, factors cited in Statistics Canada's findings on fertility and family planning.

# Bottom line A substantial share of Canadian parents are financially supporting adult children, often for basic living expenses. That support extends into later adulthood for a notable minority and contributes to financial pressure on parents and grandparents, while housing and cost-of-living concerns factor into decisions about having children.