![Image 1 — [OC] An Invisible Advantage? Analyzing 2,000 Money Diaries to find who gets family financial help (and how much it matters)](https://preview.redd.it/abd5ds9g17xg1.png?width=1448&format=png&auto=webp&s=29aee9138f290a692eb92199737fcaf2f2451305)
![Image 2 — [OC] An Invisible Advantage? Analyzing 2,000 Money Diaries to find who gets family financial help (and how much it matters)](https://preview.redd.it/l7g4fdzg17xg1.png?width=1417&format=png&auto=webp&s=c49c289c3957683b8efbaab22b51dfb8c13016f0)
[OC] An Invisible Advantage? Analyzing 2,000 Money Diaries to find who gets family financial help (and how much it matters)
Hey all! Back with another deep dive. (Previous posts: coffee habits (1, 2) and 3.
This one's about family help. I didn't have a lot of firsthand experience, so after years of reading, I was curious and searched ~2,000 diaries for five types of family support: family plans (phone/insurance), education, car, home purchase, and trust/inheritance.
Bottom line: 40% of diarists mention some form of family help. Way higher than I expected, until I looked at specifics.
"Family help" ranges from staying on mom's phone plan ($100/mo saved) to inheriting a trust fund ($193K median net worth for that group vs $88K overall)
The most surprising? $0 Weekly spend difference between those with help and those without! Though notably, helped diarists earn less ($77K vs $84K). $7K less income, same grocery bill. Do they need the help, or does the help enable different, lower-income-higher-fulfillment career paths? Something to dig into.
Had trouble fitting it all into one image, so two infographics this time. Any opinions on one vs many?
To be sure to catch the next one, be sure to sub to the substack: diametrics.substack.com. Speaking of which, anything you'd like to see covered next? I'm thinking about geographic trends or maybe the single-vs-coupled income gap? Let me know in the comments!