CONTACT MY OFFICE:
(503) 222-6678 - Portland, Oregon
(360) 256-0448 Vancouver, Washington
   info@kmarshack.com

Therapy

ADD & ADHD
ADOPTIVE FAMILIES
ASPERGER & MARRIAGE
COUPLES IN BUSINESS
DEPRESSION & STRESS
ENTREPRENEURIAL LIFE
EXPAT ONLINE THERAPY
HIGH CONFLICT DIVORCE
MARRIAGE COUNSELING
MIND & BODY HEALTH
PARENTING
PERSONAL GROWTH
RECOMMENDED LINKS
NEWS CENTER
ONLINE STORE
Overview
ADD in Adults
Parenting a Child with ADD
Overview
Articles
Overview
Coping with Anxiety Disorders
Post-Traumatic Stress Disorder
Overcoming Depression
Managing Stress
Conquering Fears & Phobias
Overcoming Social Phobia
Overview
Couples at Work & Home
Dual Career Couples
Families in Business
Overview
Recognizing High Conflict Divorce
Overview
Conflict & Communication
Infidelity
Couples at Work & Home
Love, Sex & Intimacy
Maintaining Strong Marriage
Dual Career Couples
Codependence
Advice for Singles Only
Overview
Alcoholism Recovery
Stop Smoking
Weight Control
Headache Relief
Holistic Health
Managing Blood Pressure
Releasing Unresolved Stress
Overview
Am I a Good Parent
Blended Families
Gifted Child
Coping with ADD/ADHD
Adoptive Families
Overview
Gifted Adults
When to Seek Help
Psychotherapy Options
Laid-Off from Work
Overview
Calendar of Events
Media Coverage
Newsletter
Press Center
Seminars
Related New Stories
Subscribe
Sample
Enriching Your Live Archive
Entrepreneurial Couples Archive

Enriching Your Life!

Sign up for my FREE newsletter! Get practical tips for you and your family.

Kathy Marshack News

Parents – Are Your Financially Dependent Adult Children Draining You?

Wednesday, March 29, 2017


Financially helping your adult children get established on their own may seem harmless, yet there’s danger in giving them money without skills to use it wisely.As a parent, you want the best for your children. So when they’re trying to get established on their own, giving them money seems so simple, so harmless. But what if it goes on year after year? When and where do you draw the line?

If you’re providing financial assistance for your adult children, it may get to the point that you feel like you’re not helping them any longer, that you’re actually hindering their progress toward standing on their own two feet. It’s important to consider these things, since ongoing financial help is a growing trend that will have long-term consequences for your child’s well-being and happiness. Well-meaning help can become an ongoing handout that destroys your joy and your child’s initiative and self-confidence.

A recent New York Times article reports on a survey of more than 2,000 young adults from 2007 to 2013. The findings show that today almost half of them receive financial assistance from their parents. Although two-thirds of high school students go to college, only half end up graduating. And they’re taking longer to get it done.

There are many factors involved such as the high price in rent in urban area, the cost of college tuition, the low payoff for the types of jobs they acquire. Whatever the reason, how long is “long enough”? When is it no longer a kindness? When should parents “cut the apron strings”?

When you provide financial assistance, it’s vital to require that your child learns financial and emotional self-management skills. Help them understand what credit really is, how to balance a checkbook, why it’s important to budget and live within one’s means, and that instant gratification or impulse buying doesn’t result in happiness. This can be started at an early age. Otherwise, they can lose whatever motivation and discipline they may have had. You may unwittingly be sending the message that ‘you’re not capable or competent’.

At times, financially dependent adult children may also have mental health issues including anxiety, depression and substance abuse. Anything that feeds the sense of powerlessness will worsen these problems.

It’s never too late to instill financial independence in your adult children. It may, however, involve a series of painful conversations and decisions. Taking control of the situation may feel less daunting when a trained mental health professional guides you through the process. It is possible to help your adult child to become independent of your financial purse strings, without alienating him or her. If you live near Portland, OR/Vancouver, WA please contact my office and schedule an appointment, so we can get your family back on track.

Read more on my website: Am I a Good Parent?



Recent Posts RSS


Tags


Archive