The Coronavirus Pandemic has impacted a lot of people financially. And those who are just starting out in their career fields are no exception.

According to a survey that was recently completed by USA Will Guru, 1 in 4 South Dakotans between the ages of 20-29 have received money from their parents since the beginning of the pandemic.

Some of the key takeaways from the survey found that:

  • 78% of these South Dakotas say that they are on a no-interest loan from their parents.
  • 1 in 5 parents said that they are NOT confident they'll be paid back this loan.

"The survey of 4,500 20-29 year olds provides a snapshot of young people’s living circumstances since the biggest economic shock in modern times. As Gen Z moves into adulthood and millennials advance into middle age, an overwhelming trend has emerged, revealing that 24% of young South Dakotans have relied on parents to help pay the bills since the start of the pandemic (March 2020)"-USA Will Guru

Some people have even experienced such financial hardships that they have moved back in with their parents; and are now living with them rent-free.

These 20-29-year-olds are asking for money from mom and dad for "Rent: 52%; Car: 22%; Groceries: 15%; Childcare: 11%."

These financially strained individuals have also stated that they would also turn to mom and dad to cover a $1000 expense they could not afford as well.

Source: USA Will Guru

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