Has anyone noticed how it takes kids so much longer to grow up? I am not going to deny that my parents make my financial life a lot easier, but it seems like more 25 year-olds, not including those in school, still depend greatly on their parents for part of their income. I don’t know how it is for most kids, but at least for me, I am, for the most part, on my own once I graduate from college. If I want to buy a car or go to graduate school—it is all on me.
So why do more and more young adults depend on their parents? I think it comes down to kids not knowing how to handle money and not being held accountable once they max out a credit card. I know I am speaking about a niche of people, but it is a growing one.
The economic struggles of today’s youth are great. With growing credit card debt and dependence on their parents to grow well into adulthood, children are not being held accountable.
So there is a new definition of adulthood and the difference between people in their 20s and 30s today compared to those in the 1960s is presented by sociologists in an article in the summer issue of Contexts magazine, published by the American Sociological Association.