New study shows many parents admit to helping with adult children's finances

(NBC)

Seventy-five percent -- that's the number of parents who admit helping their adult children with their finances, according to a new study by creditcards.com.

The most common expenses parents are helping to pay are cell phone bills, rent and utilities. And of the three-in-four parents who say they are helping, 84 percent say they're helping to pay their grown child's living expenses and 70 percent say they're helping to relieve their children's debt.