£70K NEEDED TO LIVE

TIGHT millennials are still sponging off mum and dad even though they earn more than them.

Handouts include paying for their mobile phones, gym memberships or family holidays.

Despite 53% of Brits aged 24 to 38 bagging a higher wage than their parents, 39% routinely ask for bailouts.

And one in five 39 to 53-year-olds are still getting financial help from their folks too.

Sarah Seymour, of LinkedIn, which conducted the poll, said rising house prices, student loans and the general cost of living were all to blame.

She said: “It’s no surprise that parents are giving their children a helping hand when they can.”

Almost one in three 18 to 23-year-olds and one in five 24 to 38-year-olds receive regular allowances from their parents.

Some 20% of millennials say parents contribute or pay for their mobile phone and 17% get help with gym memberships.

Most Brits believe £39,000 is a comfortable salary, but 20% of 18 to 23-year-olds reckon they need at least £70,000 to live comfortably. The average UK salary is £28,600.

A whopping 72% of parents said they would feel happy if their child earned more than them.