Financial dependents are individuals who rely on another person for financial support. This often includes children, spouses, or other family members who do not have sufficient income to support themselves. The person providing this support is typically responsible for covering essential expenses such as housing, food, and education. In many cases, financial dependents are considered when calculating taxes or applying for loans. For example, a parent may claim their child as a dependent on their tax return, which can lead to potential deductions. Understanding the status of financial dependents is important for budgeting and financial planning.