Whether it is college or if they're starting a life on their own, your kids will soon move out of the house.It's a sad juncture for most parents but it's also a proud moment to see your kid stand on their own two feet.
Of course, money will always be a concern when it comes to a budding young adult leaving the home. It's a scary thought, knowing that your kids might need to get a credit card lawyer in California to bail them out of a credit lawsuit.But with the right guidance, they can start their own lives on the right foot.
Here are a few things that you need to go through with them before they move out.
Set a Few Rules
First thing to do is to give them rules. They may not like it and tell you that they can do anything they want now since they're living alone, but giving them a set of rules will definitely help make it faster and easier for them to cope with living alone.Go through the things that you expect them to do, like Pay Rent With Credit Card their bills, clean the house, cook their meals, just to name a few. In return, you'll also talk to them about how you can help and what your limitations are.
The Rent
Should you help your kids pay their monthly utilities and rent or not?
This falls into how the parent takes in the situation. On one hand, helping out with the rent will give them a chance to use their money on something else, like their education, an investment, and even their savings. However, it's going to be another financial responsibility on your end, and they might start depending on you.
This is why it's important to lay down the rules before they leave.
Food Matters
They'll be covering their own meals from now on, but most parents would actually help out by sending their kids groceries.It's always a good idea to check on them every now and then to see if they're actually eating three full meals a day. You can also invite them over for a family dinner every now and then.
Other Expenses
Keep in mind that your kids will also have to deal with insurance, phone bills, transportation cost, loans and other payments.
Help them out by pointing them to the right direction. Give them tips about choosing good insurance or you can even refer them to your insurance company. Hand your old car over to them or take them out to a car dealership and help them choose the right transport for their budget.
If worst comes to worst with their credit bill, refer a credit card lawyer in California to them. Little things like these can help them out and tell them that you're still there for them.