I’m always looking at financial statistics and surveys and I came across one recently that really caught my attention. According to a 2011 survey done by the National Endowment for Financial Education (NEFE) 59 percent of parents are providing, or have in the past provided, financial support to their adult children when they are no longer in school.
Of course there are circumstances where a parent might want to help support their child after school, but 59 percent seems way too high to me.
If this seems high to you, what are you as a parent doing to help your child succeed after school? Are you teaching them how to manage money when they are young? Are you paying for some of their college so your child isn’t burdened with student loans after graduating?
If you are a young adult, what is your plan not to become one of the 59% percent? Are you comfortable taking financial support from your parents? Is living with your parents after graduation a viable option after school are you dead set against it?