Saturday, May 25, 2013

Young adult children in transition

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DD is in transition, taking a hiatus from college. While welcome to live here, a set of rules and expectations have been discussed, along with financial responsibilities that she will have to address. Included is a very modest rent that is 1/5th of the going rate around here to rent a room in a private house, starting in June, giving her a few weeks to secure work. She has already worked a few days as a fill in, at her former job, and will be speaking to this employer about more steady work. This money is not to tax her modest budget/income, but rather to defray my increased food, and utility costs. Reality is that life does cost money. Additionally, while I would have continued to pay her share of our bundled cell phone plan while she was attending school, she will now be expected to reimburse that charge, along with her medical out of pocket costs.

So what is next? DD would need to acquire a good, used car but she is expected to pay for it, as well as the insurance, gas, maintenance, taxes associated with car ownership. She has 3 months until I return to work, and meanwhile, she can save to purchase a car, and someone can drive her to work and pick her up. Additional monies can be borrowed from me, if needed, but a written contract and payment schedule will be drawn up.

While I believe in  helping kids transition, a helping hand up and not a hand out is the way to go. It builds responsibility and gives a clear picture to what being an adult means, financially speaking. 

1 comment:

slugmama said...

I agree with how to treat your transitioning young adults. Support them emotionallyand give them a hand up financially but make them pull their own weight and pay their way, at least partly.