We’ve all heard the horror stories: young people who graduate from college, move back home with their parents, make very little money and mishandle the cash they do earn.
As many as 53 percent of millennials still receive financial help from their parents, according to 2018 statistics from a Country Financial report. A Pew Research Center study found that 47 percent of young people ages 18 to 29 lived with parents as of February 2020, compared to 20 percent in 1960.
While it’s never too late to teach young people to budget, you also can’t start too early. If you don’t want to be supporting your children when they’re 30, start teaching them about money when they’re 3, experts say. For nine ways to teach your children to budget, click on the link below.