Sons cost parents more money in the long run
Parents, listen up: you might love your daughters and sons equally, but researchers say sons will cost you more money in the long run.
ABC reports, "Researchers say after the age of 18, 41 percent of men need financial help from their parents compared to only 31 percent of women."
The survey, conducted by Harris Poll for Yodlee Interactive, also found daughters are less likely to move back into their parents' home and more likely to lend a hand to aging parents, Time reports.
The Harris Poll also suggests in middle age, or from age 35 to 44, nearly a third of men are likely to be living with their parents, compared to just 9 percent of women. And if women are living at home, 36 percent of them are taking care of ailing parents - compared to 16 percent of men who live at home while caring for their mom or dad. And here's another fact: 35 percent of men living at home are unemployed, compared with 19 percent of women.
Time also notes the survey found men are twice as likely to admit they don't provide emotional support for aging parents by doing things such as calling home and keeping in touch.
Additionally, a Wall Street Journal article reports when adults do move back home, it runs their parents around $8,000 to $18,000 a year, depending on whether the parents pay for extras such as entertainment.
Some argue women might be conditioned to receive less financial support from parents. Time cites a University of Michigan study that found that boys are 15 percent more likely to get higher allowances for doing household chores than girls who are the same age.
But a writer for the Wall St. Cheat Sheet says it's not so easy to determine whether it's more expensive to raise boys or girls. She says the answer changes depending on whom you ask.
For example, she points to research by the personal finance website lovemoney.com, which says it costs more to raise girls because they have more expensive hobbies and clothing.
However, The Telegraph says boys are more likely to cost more because they wear out clothing and other items faster than girls do. The outlet cites a report from Halifax Bank.
Either way, the U.S. Department of Agriculture estimated that a child born in 2012 will cost his or her parents more than $241,000 in the first 17 years of life. But you can't put a price on love, right?
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