A new CreditCards.com survey finds parents are participating big-time in helping adult children with their finances.

CreditCards.com Senior Industry Analyst Matt Schultz says roughly 3 in 4 parents are helping adults kids with living expenses or debt.

Schultz says cell phone expenses top the list, followed by student loans, auto loans and medical bills.

"It stands to reason that student loans would be a common thing to get help with because that is such a crushing debt load that so many people have. And it stand to reason that if these kids need help, that the most likely place that they are going to get that help is the Bank of Mom and Dad."

About 80 percent of the parents in the survey living in the northeast said that they had assisted with living expenses, compared to only 72 percent in the south.

"There is no great secret that life in the northeast is expensive, so maybe it is not that surprising that more folks in that area would be looking for help."

Schultz says the lesson here is that parents need to "teach their kid how to manage their finances, and how to live within their means."

"And that is important, not only to set a course for the kids, but it is also important to help mom and dad stay on track for retirement, which is a big issue for most Americans.

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