ARE YOU 20-SOMETHING AND STILL LIVING WITH MOM AND DAD?

#millennials #StillLivingAtHome #adults
OK, you’re 20-something, with no job, perhaps a college degree.
Let’s presume you don’t want to be living at home, but you don’t believe you can afford not to.
If you PREFER to live with your parents, that may be a discussion for another time.
Peter Dunn, an author, speaker, radio host and personal finance expert, tells young people to “knock it off,” as the headline reads, and stop laying their financial problems on their parents. He discussed this in a March 29, 2016, column in USA Today.
Dunn says that every late-night pizza, every beer and every other good-time splurge in college contributed to the young person’s financial dilemma.
“Your parents (speaking directly to the young folks) want to cut you off, but are afraid to,” Dunn writes. “It’s not good enough to stop asking for money. You must tell them you don’t need their money anymore.”
Admittedly, the problem is not as simple as it appears. Kids go to college expecting to come out with some kind of job. But, as the last few years have taught us, not only is that not guaranteed, it’s becoming more unlikely in certain fields.
On top of not having a job, the kids may have mountains of college debt lurking in their lives.
Certainly, if you are in college now, you need to be aware that you might not have a job when you get out. The earlier you plan for it, by, say, watching your spending while in school or getting work experience in some area that might employ you when you get out, the better off you will be.
It’s great to love your parents. It’s great for your parents to love you. The greatest love you can show your parents, perhaps, is not to burden their lives. They are trying to save for retirement. Every dollar they give you is one they cannot put to that cause.
As a young person, you can lament that your parents probably had it better than you as far as the job market goes. Or, you can buck up and find ways to support yourself in the current climate.
Believe it or not, there are many ways out there to do that that don’t necessarily involve manual labor. For one of the best, visit www.bign.com/pbilodeau. You may have to look outside your comfort zone for a solution, but the possibilities are out there.
Let’s look at this from a social perspective. Do you really want to bring a date back to your place with your mom and dad there? Do you really want to confine your personal space to one room? Do you really just want to hang out at home the rest of your life?
A life is certainly worth working for, even if that work may not be exactly what you want to do. You can also find a solution (job) that is temporary, while you think about how you are going to use all those skills and all that knowledge you paid so dearly for. Chances are, you WILL find a use for it, but it may or may not make you a living.
“I’ve come to the conclusion that asking 18-year-olds to commit to tens of thousands of dollars of debt, without a job, income or assets, is among the stupidest things modern society does,” Dunn writes.
We hear that you can only get a good job with a good education. But some of those “good” jobs don’t pay much. If you are going to commit to a college education, have a plan. Know what you are going to do with it as you proceed. Also, beforehand, do the math. Decide whether the education is worth the debt. There’ no shame in deciding that college is NOT for you, or just not worth the financial sacrifice.
Whatever you do, give mom and dad a break. Come home to visit, even frequently. But make your home somewhere out of theirs.
Peter

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