Press Release

For immediate release

Bank of Mum and Dad: 1 million Kiwi parents subsidise their adult kids

        • 51% of Kiwi parents help their adult kids financially
        • Groceries, rent, bills and childcare top the list
        • How parents can safeguard their financial position

12 April 2022, Auckland, New Zealand – From buying a home to help with the groceries, the Bank of Mum and Dad is in full swing in New Zealand, according to new research by global comparison site Finder.

A nationally representative survey of 1,507 Kiwis found more than half (51%) of parents with children aged 18 and over help them out financially. That’s equivalent to more than 1 million parents dishing out money to support their children.

Paying for groceries is the number 1 way parents are lending a helping hand to their children, with 44% saying they buy their kids’ food.

Nearly a third of parents (31%) allow their adult children to live at home rent-free, while 22% charge discounted rent.

Nearly 1 in 5 (19%) say they’ve given their children money or a loan for a home deposit, while 9% say they acted as guarantor on their adult kid’s home loan.

Angus Kidman, Finder’s editor-at-large in New Zealand, said rising property prices have made the Bank of Mum and Dad a more attractive lender than ever before.

“Many young Kiwis rely on parental support to help them get onto the property ladder.

“A little help now can mean a lot later. Paying your kids’ bills or providing free accommodation in early adulthood will help them build wealth early on.

“For those on lower incomes or who are still finding their way in life, this kind of support is crucial.

“Even non-financial support – like going guarantor on their home loan or providing free childcare – can be a major help.”

The research found mothers (55%) are more likely than fathers (47%) to give their adult children financial support.

However, fathers are more likely than mothers to help pay for their children’s car (22% compared to 9%) and assist with mortgage repayments (12% compared to 3%).

Kidman said it’s important not to let the lending get out of hand.

“Helping your children save for a home or paying for their education is great, but make sure they know this support won’t last forever.

“If you’re helping your kids pay their bills, but they’re spending all their money on clothes or enjoying the unemployed life, you aren’t helping them learn about money.

“Talk to them about budgeting and spending responsibly. Perhaps you could continue to support them, but with the expectation they pay you back.”

If you have any children 18 and over, do you help them financially?
I don’t have any kids aged 18 and over44%
Source: Finder nationally representative survey of 1,507 Kiwis, October 2021


If yes, how have you helped/do you help them?
Paying for groceries44%
Letting them live at home without having to pay rent31%
Paying for bills (e.g. broadband, mobile phone, energy)26%
Charging a discounted board/rent to live at home22%
Paying for car-related costs (e.g. registration, petrol, car insurance)22%
Providing free childcare20%
Giving them money or a loan for a home deposit19%
Paying for all or part of their car15%
Helping with wedding costs13%
Paying for/subsidising their tertiary education13%
Paying for some or all of their holidays13%
Paying for transport12%
Being the guarantor for their home loan9%
Helping them pay their mortgage7%
Source: Finder nationally representative survey of 429 Kiwis, October 2021
Only asked to those who responded “Yes” to “If you have any children 18 and over, do you help them financially?”
Respondents were able to select all that apply.

How parents can safeguard their financial position:

  • Don’t dip into your emergency account. It’s important to have your own funds that you don’t touch, even to help out your kids. You never know what life might throw at you, and it’s crucial to have a financial fallback just in case.
  • Make informed decisions. If you go guarantor on your child’s mortgage, make sure to do your research first so you’re aware of the risks. It can be worth consulting a mortgage broker or financial planner beforehand to ensure you have the right information.
  • Set up a payment plan. Family and money don’t always mix. If you lend money to your kids in the form of a “loan”, draw up an agreement first so repayment expectations are clear from the start.


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The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on's review pages for the current correct values.

About Finder

Finder is a global comparison site, now available in New Zealand. Each month, 90,000 consumers turn to Finder to save money and time, and to make important life choices. In New Zealand we compare credit cards, mortgages, travel insurance, shopping deals and more.

Our free service is 100% independently-owned by three Australians: Fred Schebesta, Frank Restuccia and Jeremy Cabral. Since launching in 2006, Finder has continued to expand and launch around the globe, with offices in Australia, the United States, the United Kingdom, Canada, Poland and the Philippines. For further information visit

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