The economic crisis caused by COVID-19 has financially devastated many young people.
Parents might want to help out, but how can you support your adult child without going broke yourself?
THE ECONOMIC CRISIS CAUSED BYCOVID-19 HAS FINANCIALLYDEVASTATED MANY YOUNG PEOPLE.IN THIS MORNING'S REBOUNDMILWAUKEE- ADVICE FOR PARENTSWHO MIGHT WANT TO HELP SUPPORTAN ADULT CHILD STRUGGLING--WITHOUT GOING BROKE.MILLIONS OF YOUNG PEOPLE AREOUT OF WORK AND OUT OF OPTIONS."I have not worked sinceMarch.""There's no work.
Wewere the first to be hit andwe'll be the last to go back."IF YOU ARE GOING TO HELP YOURKIDS, YOU NEED TO BE CAREFULNOT TO PUT A FINANCIAL STRAINON YOURSELF.
FIRST - NEVERRISK YOUR RETIREMENT.FINANCIALEXPERTS SAY A BETTER IDEA THANTO DRAW FROM THOSE FUNDS IS TOHAVE THEM COME BACK AND LIVEAT HOME.IF YOU DO HAVE MONEY,BE SPECIFIC ABOUT THE PLAN.IFIT IS A LOAN, MAKE SURE THEYARE PAYING YOU SOMETHING EACHMONTH.AND MAKE SURE YOU BOTHAGREE ON WHAT THE MONEY WILLBE USED FOR.THEN HELP THEMDEVISE A BUDGET.APPS LIKEMINT, POCKETGUARD, CAN HELPYOUR CHILD TRACK THEIR INCOMEAND EXPENSES.ALSO, THINK OFHOW YOU CAN HELP YOUR KIDSWITHOUT SHELLING OUT MONEY.MAYBE IT'S BABYSITTING ORASSISTING THEM WITH A JOBSEARCH.ACCORDING TO A SURVEY BY FIFTHTHIRD BANK, ALMOST THREE OUTOF FOUR U-S ADULTS WITHCHILDREN OVER AGE 18 HAVEHELPED THEIR ADULT KIDS PAYLIVING FOR EXPENSES OR DEBTS.FROM JOB OPENINGS TO BILLASSISTANCE -- WE'VE GOTRESOURCES TO HELP YOU GET BYAT TMJ4.COM SLASH REBOUN
An adult also broke their leg after falling at Hound Tor on Sunday (April 28)