Episode 208: How To Stop Financially Supporting Your Adult Children

Women's Money Wisdom

Melissa Joy explores a significant yet often overlooked trend: the increasing dependence of adult children on their parents for financial support. Drawing from a recent Credit Karma survey, which reveals that one-third of American adults rely on parental financial assistance, Melissa delves into the problems this trend can cause for parents while also providing practical measures to promote financial independence within families.

Listen and Learn:

1. Proactive ways to prepare your kids to support themselves
2. What to do when you're ready to reduce your financial support
3. How to manage if you are overcommitted & need to cut the financial cord now

Resources:

1. Read: These Families Are Shutting Down the Bank of Mom and Dad
2. Read: Nearly One-Third of American Adults Rely on Their Parents for Financial Support
3. Read: The 3 Money Conversations to Have With Your Kids
4. Listen: Women’s Money Wisdom Ep 161: Teaching Teens the Value of Money

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Kapitel

1. Episode 208: How To Stop Financially Supporting Your Adult Children (00:00:00)

2. Supporting Adult Children Financially (00:00:05)

3. Setting Boundaries With Adult Children (00:14:17)