Feedback: Cutting the Purse Strings
Thursday, December 16, 2004 - 03:16 PM
I am a thirty-something classical musician and single. While I am not particularly well-off, I am financially independent and fiscally responsible and relatively comfortable. However, my parents continue to give me money and won't allow me to turn it down despite my protestations. It makes me feel dependent and needy, which I don't enjoy, but it seems to make them feel better and more secure.
-JS
I myself couldn’t wait to get out of the house as I longed for my independence, but do you think this idea that children must move out is a very American concept? In Europe, extended family situations are much more common, and kids will live at home until their late 20’s, early 30’s sometimes.
-SM
There should be restrictions on massive college loans and credit limits to people under 21. If you’re not old enough to buy a beer you’re certainly not old enough to sign away the next 30 years of your life to tens of thousands of dollars of debt. That would help keep people from running back to Mom and Dad.
-PF
I have the opposite problem. My sons live independently, in their own homes, but both are rather scrabbling for money. I would like to help them out, but they are reluctant to take the money. I have enough to help them easily. What can I say to them to make it easier for them to accept it?
-S
Just a note on Generation X, from the immagrant point of view. I see some of my friends and relatives who are living with their parents for the opposite reason; they are taking care of their parents in an economy in which their parents are unable to maintain a steady job. This Genereation X has both the responsibility of their parents, pay their own student loans, as well as plan for their future family.
-LM
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