You, as a parent, have to be decisive about the fact that your college-graduate kid's “safety net” of living at home is coming to an end, says WSJ Wealth Management Expert Ted Jenkin
Photo: Getty Images/iStockphoto By Ted Jenkin Sep 13, 2019 7:29 am ET Ted Jenkin is the co-CEO and founder of oXYGen Financial, a financial advisory practice focused on the X & Y generations. He also blogs at yoursmartmoneymoves.com.
When my daughter graduated in May, my wife and I gave her a specific deadline: By the end of the summer, find a job, find an apartment, and find out exactly what your monthly expenses will be when you are living on your own. Of course, kicking your kids out of the house doesn’t necessarily mean that you won’t offer some initial help, but it does mean that they will be responsible for paying for their housing bills. We were steadfast that our daughter’s basic bills--rent, electricity, television, food, entertainment, etc.--would all be on her dime on her time. If she wants to shop at Whole Foods instead of Aldi, then good for her. She will just need to figure out a way to afford it.
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