📺 Stream EntrepreneurTV for Free 📺

Far Too Many 'Adults' Still Using Parents' Phone Plan A mix of 'failure to launch,' zero desire for financial independence and attractive family plans mean half of people age 18 to 24 are still mooching off actual adults.

By Eric Griffith

entrepreneur daily

This story originally appeared on PCMag

Maskot | Getty Images

In a new survey of 1,000 Americans across all ages conducted by Let's Talk, a website devoted to helping users find the right mobile-phone carrier, the results were, in its words, "startling." Some might say sickening. The survey found a full 49 percent of young adults age 18 to 24 are still getting their smartphones' voice and data service paid for by their parents (or another responsible adult in the family).

The number drops quite a bit when they hit 25 -- the age you can also also rent a car with less hassle, so it's the magic number where everyone becomes instantly more responsible. Only 16 percent of people age 25 to 34 are using a plan paid for by parents. Finally, at ages 35 to 44, the number goes down to 7.5 percent. After age 45, Let's Talk didn't ask, probably because those are the parents.

Across the entire group of 1,000 respondents, Let's Talk found a full 73 percent were on some kind of shared family plan (where everyone probably pays, but they get a cut rate) rather than an individual plan; that goes up to 79 percent for ages 18 to 25. Family plans may facilitate Peter Pan Syndrome, but they also save money.

Let's Talk's top choice overall is T-Mobile's Magenta Family plan, which comes with free Netflix. That's a strong incentive not to get your own carrier.

If you're over 18 and actually looking for some independence, read The Best Cheap Cell Phone Plans You've Never Heard Of.

Eric Griffith

Writer

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Devices

Keep the Office Cool This Summer with $10 Off a Klima Thermostat

The Klima Smart Thermostat can turn your existing mini split, heat pump, or AC into a smart unit.

Thought Leaders

It's the End of the Entrepreneurial Era As We Know It

With the rise of advanced technologies and AI, are we losing all sense of the independent business person and entrepreneur?

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Money & Finance

12 Books That Self-Made Millionaires Swear By

The bookshelves of millionaires can inspire you to build your wealth. Here are 12 must-reads they recommend.

Side Hustle

He Started a Luxury Side Hustle at Age 13 — Now the Business Earns More Than $10 Million a Year: 'People Want to Help You When You're Young'

Michael Morgan, now the owner of Iconic Watch Company, always had a passion for "old things" — and he turned it into a lucrative venture.

Green Entrepreneur®

A Deer Invasion in Hawaii Has Turned Into an Environmental Crisis—And a Sustainable Business Opportunity

How Maui Nui Venison built a for-profit harvesting business that protects the land and helps the local community.