ENMany parents continue to provide financial assistance to their emerging adult children, which has particular links with emerging adults’ well-being. The current study examined how form and level of parental financial support shape need-supportive and - thwarting parenting and well-being of emerging adults. Participants in this short-term longitudinal study were 600 Lithuanian emerging adults (Mage = 24.94, SDage = 3.03, range 19–29 years; 52.3% females), recruited from online survey panel using the controlled quota sampling strategy. The latent profile analysis identified four profiles characterizing dependence on parental financial support: entirely dependent, mostly dependent, dependent on direct support, and financially self-sufficient. Reliance on both employment income and parental support was linked to unfavorable parenting and poorer well-being, while reliance only on direct support was linked to more favorable parenting and well-being. The findings demonstrate the importance of differentiating between forms of parental financial support. Keywords parental financial support, need-supportive and -thwarting parenting, parental socioeconomic status, well-being, emerging adulthood.