Tag: children

It’s one thing for parents to adjust and figure out how to survive the empty nest syndrome that comes with a child going to college or pursuing options after high school.  But, it’s also been observed that humans are the only species whose offspring returns to their parents. This return home is fraught with difficulties and concerns on the part of both parents and adult children.

Sixty percent of parents in a recent survey said they have allowed their under-18 children to use their credit card to make online purchases, with nearly 50% regretting it. Nearly half (46%) of parents say their child used their credit card at least once without permission, up from 29% in 2018.

The question of whether to give children an allowance has vexed parents since the turn of the 20th century. It’s an issue faced by each new generation of parents without any clear, universal answer, yet is an important consideration in financial literacy … even for celebrities and children of wealth.