The "money secret" millennials can't keep

The Silent Investor Subsidizing (Some) Millennials

Plenty of adults are still on their parents’ phone plans or “borrow” their Netflix passwords. And they’re pretty transparent about both. But what’s less talked about is the fact that today, some parents pay for everything from private early stage career coaches to down payments, rent, and monthly expenses, all to give their Gen Z kids a lift in an economy that’s brutally expensive.

And we’re not just talking about the Cher Horowitzes of the world. One recent survey suggests the majority of Gen Z adults still get financial help from their parents. Another study puts the monthly amount at around $1,500

Part of this comes down to generational math. Baby Boomers still hold a massive share of US wealth, which feels less surprising once you consider the economy they came up in. For many parents, helping their kids now feels like paying it forward.

Then there’s the “Great Wealth Transfer.” Economists expect millennials to inherit enormous sums from their Boomer parents over the next few decades. Keyword: decades. Most people will not wake up to a surprise direct deposit tomorrow morning. And for many families, that money arrives alongside grief, estate paperwork, and at least one sibling argument over who “deserves” the dining room table.

At the same time, a surprisingly large number of adults now financially support an older parent. Which creates a strange economy where some people receive help, some give it, and a lot more somehow do both at once.

If this hits close to home:

Talk about it. The conversation may feel worse than middle school sex ed, but a clearer picture of your parents’ finances can help you avoid future surprises, family drama, and one day asking, “Wait… nobody has a will?”
Stop the comparison spiral. Your friend’s ceramic owl Etsy business may be thriving. Or she may receive a very different level of financial help from her family than you do. Either way, it’s none of your business.
Build your own safety net. Easier said than done, but retirement accounts, emergency savings in a high-yield savings account, and brokerage accounts all add up to financial stability for your future self.

— Anna “Lifestyle Math Detective” Davies, writer

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Get Away From It All

RIP to Spirit Airlines, the infamous bus in the skies that made travel cheaper (and somehow worse). Financial experts think the budget carrier’s demise could mean pricier flights this summer, but there are still ways to save before takeoff:

The cheapest flights probably won’t come from the sites you usually check first.
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What's the Deal With the Dollar?

The US dollar has significantly dipped against other major currencies this year. Which sounds abstract until your vacation, coffee habit, or French pharmacy restock cost more than you budgeted for.

Where you’ll feel it immediately: Travel is one obvious spot. A weaker dollar means your money won’t get you as far. The euro gained serious ground on the USD in mid-2025 and set a major high earlier this year. Which means that a Paris hotel, Italian dinner, or Spanish linen set may not feel like the steal it did this time last year, especially once you factor in fuel prices.

Less obvious impacts: Economists love to flag coffee as a harbinger of higher prices. (It’s hard to argue with a $9 latte.) But imported staples like olive oil, wine, chocolate, and seafood can get pricier when the dollar weakens as well. In other words, your little “treat” may start to feel more like a splurge.

Bigger picture: A weak dollar makes life less affordable and inflation stickier. It’s not the only factor at play here, but it can add pressure to an already tense situation in ways we’ll feel both immediately and long term.

TOGETHER WITH NORTHWESTERN MUTUAL

Mother’s Day may be over, but taking care of mom goes beyond flowers and brunch.

Between juggling kids, work, or whatever else is on your plate, you might want to put helping both your parents plan for what’s next on your to-do list. It’s not the easiest conversation, but it’s one of the most meaningful. Talking through their savings, potential healthcare expenses, and their financial legacy can help ensure their wishes are honored (and that you’re there to support them).

A Northwestern Mutual financial professional can help guide the conversation, uncover blind spots, create strategies to protect what matters most, and build an intergenerational plan that works for your whole family.

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Have a money question you want us to answer? Email us at money@theskimm.com.

Written by Anna Davies; edited by Jordan Galloway and Kylie McConville; fact-checked by Barbara Kean and Sara Tardiff.

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