£550 bill warning issued to anybody who's a millennial or Gen Z

A poll, of 1,000 adults aged 18 to 35, found 32 per cent still have their phone bill paid for by their mum and dad, while 35 per cent also use their parents' logins to TV streaming services.

A third of millennials and Gen Z still have some bills paid for by their parents, it has emerged. A poll, of 1,000 adults aged 18 to 35, found 32 per cent still have their phone bill paid for by their mum and dad, while 35 per cent also use their parents' logins to TV streaming services.

It also emerged the cost-of-living crisis is biting for the younger generation, with those polled estimating their bills have risen, on average, by £154.49 since the start of 2023. And parents are contributing an average of £46.10 a month – or more than £550 a year – to kids' outgoings.

Rob Orr, chief operations officer at Virgin Media O2, which commissioned the study to warn parents they could be overpaying on their children’s phone bills, said today: “In the current economic climate, people can ill afford to waste money paying for phones they already own.

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“Whether you’re getting support from the bank of mum and dad, or helping your kids, we’re urging everyone to check you’re not being charged for a phone that’s already been paid off. Many parents across the UK will be paying for multiple phone contracts, so it’s crucial they avoid the pernicious practice of smartphone overpayments.”

Mr Orr, from Virgin Media O2, which automatically reduces bills once the contract ends, for phones bought directly from them, added: “With the cost-of-living crisis continuing to bite, it’s more important than ever to make sure you’re only being charged for what you owe.”

The top ten bills paid for by mums and dads include TV streaming services, like Netflix, Disney Plus, Apple TV and Amazon Prime Video. Housing costs is also high, alongside phone bills and utility bills and insurance policies, which make up the top five. Car insurance, delivery services and clothes are also listed, alongside sports subscriptions and music streaming services.