ACN Business

Informal safety nets help many Americans with expenses – people at all income levels benefit from this ‘financial interdependence’

Written by Jeffrey Anvari-Clark, Assistant Professor of Social Work, University of North Dakota

Even daredevils benefit from their ties to other people.Mauricio Graiki/iStock via Getty Images Plus

About 1 in 5 American adults regularly provide unpaid care or financial assistance to their adult relatives or friends. And about 1 in 7 young adults between the ages of 25 and 34 live with their parents.

But the true extent of support among...

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