Thursday, June 21, 2012

Money Making Tips For Kids!


It’s becoming more common for young adults to take on the label of “boomerang kids”—adult children who move back home with their parents due to career or financial difficulties. It can be a bumpy transition to return home to mom and dad, but here are seven ways to make the transition easier.

1. Set a Time Limit

Think about why you are back home. Is it because you haven’t gotten a job yet? Because you are trying to save up enough money to get started on your own? Or is it because your parents let you come home so you could save money for a down payment on a house? Whatever your reason for moving home, come up with a timeline for how long it will take you to accomplish your goals and move out. Setting a time limit will allow both you and your parents to see a light at the end of your boomerang tunnel.

2. Discuss Expectations

Before moving back in with your parents, sit down and discuss expectations. Will you have a curfew? Do they expect you to pay rent? When it comes to meals, do you need to buy your own food or help foot the bill for groceries? Are you allowed to have guests over? By discussing expectations before you move back home, there will be no confusion about rules, and you will be able to coexist peacefully with your parents.

3. Contribute!

Even if their expectations for you don’t include cleaning the house or making dinner, by stepping up and cleaning the kitchen when you see it’s dirty or cooking dinner once a week, your parents will be much happier to have you back at home. Who knows, maybe if you step up and contribute beyond what is expected, they’ll be more lenient with you if you aren’t able to meet the “leave the nest” time limit you set for yourself when you moved back in.

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