An increasing number of young adults are part of the sandwich generation, meaning they are caring for both a parent and a child, and often times, more than one of each. While it's more common for those in their 40's and 50's to be a part of this generation, more and more 20-somethings are becoming a part of this group as well.
Unlike your older counterparts who have been rising the career ladder and are more likely to be in a better financial position, 20-somethings aren't in much of a position to hand over monthly stipends to their parents, especially if you're facing debt and the responsibility of taking care of young kids.
As much as you'd probably love to help out with cash gifts, you also have to be thinking of your current financial …show more content…
Since finances are a touchy subject, you might want to start talking more openly about what you've been learning about money, how you've paid off your student loan debt or that you started investing in your 401k. This will open up the discussion and then you can see how open they are to talking about it. Depending on their age and abilities, what they can do will vary, but they can learn to budget and there's probably at least a few small debts they could easily pay off within a few months plus it's not too hard to create or pick up a short-term part-time …show more content…
Days spent with friends, volunteering with favorite charities and weekends with the grandkids. However your parents may not be able to afford to give up working. Brainstorm a list of possible part-time jobs that they could do, based on their interests and past work experiences. Perhaps your dad could be a handy-man for hire, working with neighbors, real estate agents and apartment complexes to do repairs. Maybe he was an accountant; the tax season is a great time to bring in some extra cash. Was mom a math teacher? She could tutor students, write a blog sharing math tips for parents or she could freelance write test questions for textbook and testing
Unlike your older counterparts who have been rising the career ladder and are more likely to be in a better financial position, 20-somethings aren't in much of a position to hand over monthly stipends to their parents, especially if you're facing debt and the responsibility of taking care of young kids.
As much as you'd probably love to help out with cash gifts, you also have to be thinking of your current financial …show more content…
Since finances are a touchy subject, you might want to start talking more openly about what you've been learning about money, how you've paid off your student loan debt or that you started investing in your 401k. This will open up the discussion and then you can see how open they are to talking about it. Depending on their age and abilities, what they can do will vary, but they can learn to budget and there's probably at least a few small debts they could easily pay off within a few months plus it's not too hard to create or pick up a short-term part-time …show more content…
Days spent with friends, volunteering with favorite charities and weekends with the grandkids. However your parents may not be able to afford to give up working. Brainstorm a list of possible part-time jobs that they could do, based on their interests and past work experiences. Perhaps your dad could be a handy-man for hire, working with neighbors, real estate agents and apartment complexes to do repairs. Maybe he was an accountant; the tax season is a great time to bring in some extra cash. Was mom a math teacher? She could tutor students, write a blog sharing math tips for parents or she could freelance write test questions for textbook and testing