:: The Boom Blog ::
Thursday | 27.04.2006
07:22 HATE TO SAY I TOLD YOU SO.... [General]

Check out the article from NYT titled "The Bank of Mom and Dad." The journalist talks about how many of today's 20- and 30-somethings are getting some form of financial assistance from their parents. The article includes the stat that 34 percent of young adults between 18 and 34 receive cash from their parents. Now, that's no surprise to me considering that I talk about that in my book. In fact, that's the main reason I said that we shouldn't get so down on people living at home. After all, they're not the only ones getting help from their parents. While many young adults go around with their apartments and bills paid in full by their parents, others (who don't have wealthy parents) have to move back home. So why are we judging this group so harshly and letting the other group off the hook completely? It just doesn't make any sense to me. In fact, according to another article from Money magazine, living at home with parents is more fiscally responsible than letting your parents pay all your bills. I couldn't agree more!


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