Key takeaways
More than 7.7 million Australians (36%) gave money to family or friends over the past year.
The main reasons were everyday essentials like rent, groceries, and bills (30%), followed by medical costs (17%) and debt repayment (12%).
While helping loved ones feels right, it can strain relationships and jeopardise personal financial security if not handled carefully.
Setting terms, being upfront about expectations, and having open conversations can prevent resentment.
We often talk about the rising cost of living, but new research shows just how much pressure it’s putting on everyday Australians, so much so that millions are dipping into their own pockets to keep loved ones afloat.
According to Finder, more than 7.7 million Australians have given financial help to friends or family in the past year.
That’s over a third of the population, a silent safety net that most don’t talk about but many quietly rely on.
And it’s not just the “Bank of Mum and Dad” anymore.
Yes, 10% of Aussies helped out their adult children, but 12% were actually supporting their parents.
Another 9% helped a sibling, and 7% gave money to a friend.
Some even admitted handing over cash to extended relatives, or without even knowing exactly what it was for.
What’s driving this?
The numbers tell a story we’re all seeing play out in real life:
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30% chipped in for everyday essentials: rent, groceries, and utilities.
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17% helped with medical costs.
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12% went towards paying off debts.
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And almost 1 in 10 paid for a bigger one-off purchase, like a car or appliance.
It’s clear this isn’t about generosity in the old sense, helping kids with a house deposit or contributing to a wedding.
Today, it’s about survival. Families are pulling together just to keep the lights on.
The cost of being generous
Of course, while helping family feels like the right thing to do, it can come at a cost.
Financially, it eats into your own savings, investments, and long-term security.
Emotionally, it can create tension if expectations aren’t clear.
Think about it: if you loan money to a sibling to help with rent, but then see them take a holiday, resentment can creep in.
Or if you keep giving to your parents, you may start worrying about your own retirement plans.
Generosity is admirable, but if it undermines your own ability to grow, protect, and pass on wealth, then you may simply be transferring financial stress from one generation to another.
How to protect yourself (and your relationships)
If you are considering helping out, here are three simple but powerful steps that can save a lot of heartache:
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Set clear terms from the start. Agree on how much you’re giving, whether it’s a gift or a loan, and if there are repayment expectations. Put it in writing, it doesn’t need to be formal legalese, just something both parties sign off on.
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Be honest about your feelings. If you know you’ll feel resentful seeing them spend money elsewhere before repaying you, have that conversation upfront. It’s better to be clear than quietly stewing.
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Know your boundaries. If you can’t openly talk about money with this person, think carefully before lending. A “no” today might save your relationship tomorrow.
Final thoughts
This Finder survey is a wake-up call.
Families are becoming the shock absorbers of Australia’s affordability crisis.
While it’s natural to want to help, your first responsibility is to ensure your own financial resilience.
Because at the end of the day, you can’t pour from an empty cup.
The stronger your own financial position, the more genuinely helpful you’ll be able to be in the long run, without risking your own future.
