Helping your new grad get started in their career
More and more new grads are coming home to live with their parents after graduating from college in a weak economy with poor job prospects.
This article from TwinCities.com provides some advice for parents who want to help their adult children get started on their chosen career path, whether the adult children are living at home or not.
Giving financial assistance to adult children
Whether or not your adult children live with you, it’s likely you’re providing them with some financial assistance. Make sure you do so in a way that helps your adult children work towards the ultimate goal of independence, and doesn’t interfere with your own financial well-being or retirement plans.
This article from SeaCostOnline.com offers some good tips, and some reminders about what to consider when setting up a repayment plan for a loan to your adult kids.
Talking to your Adult Children About Money
Here’s a link to a video with some great advice for talking to your adult children about money — whether they live with you or not.
Advice To Give Adult Children About Money
Those Australian Gen-Ys are getting a great deal
More research on adult children living at home has just come in from Australia. This time, it’s from Bankwest, and the results are a bit scary — but even more so are the quotes from Gen Y kids in an article about the survey published in the Herald Sun.
First, the findings from the survey, as published in the Herald Sun:
- Parents are forking out $6000 a year to support their stay-at-home children.
- Only 42 per cent pay rent and of those, the average amount is just $70 per week.
- 60 per cent of parents think their kids don’t pull their weight around the house.
- Almost half of parents felt they were taken for granted by their children kids.
- More than half of Gen Ys said they could not afford to move out and 39 per cent said they liked the extra perks of homemade dinners and getting their laundry done.
It’s that last stat that probably gets the hackles of parents up. If it’s got you fuming, check out this quote from a Gen Y-er from the article:
“It’s nice having somebody take care of you a bit: laundry, dinner, a clean house, not having to do too much and obviously the money side.”
You can read the entire article here.