Remember life when you were in your 20’s? For all of us, it was the beginning of personal self-discovery, understanding who you are and what you are about. For some of us, it was a time of excitement, adventure and admission into the carnival of adulthood. We gained a vast amount of knowledge and experience not found in any textbook. While we can’t go back and change the things you wish you would have done differently, you can pass on the lessons learned to your children. 
That way, they may choose not make some of the same mistakes you have, and optimize their opportunities for success. While many young adults are staying at home longer due uncertainties of a global economy, they eventually reach the point where they want the freedom and independence associated with living on their own.
One of the most significant milestones/achievements your 20 something will experience is moving out of your home and into their own place. Here are six things every 20 something’s parents need to impart to their young adult before they begin life on their own.
Making Your Own Meals
Eating out or ordering take-out can add up to a lot of money; even if they go to a cheap fast food restaurant for a hamburger. Cooking their own food can save them a lot of money. For example, the cost of several bags of Ramen, a large bag of frozen vegetables and a dozen eggs can make several meals equals the price of one meal at a fast food restaurant.
It is also important they do not sacrifice nutrition just to save a few dollars. Keep an eye out for deals, prices and use coupons. Take advantage of the food banks if necessary. They are there to provide nutritious food for those with very little money to spare.
Spending Your Money Wisely
Your kids should adopt a mindset of placing needs before wants with their spending with necessities such as rent, utility bills, medical and food paid for first.
Credit cards, loan payments should be paid second and last would be used for things such as going out on occasion, treats and other fun things. It is also important they live within your budget. Here is a suggested order of paying bills:
1. Rent (housing)
2. Utilities such as electricity, heat, internet and phone
3. Medical (if any)
4. Food
5. Credit card and/or loan payments
6. Clothes, going out, other
Having Reliable Employment
It’s no secret it takes money to live on your own. Make sure your kids have enough to pay for living expenses such as rent, utility bills, food, medical expenses including insurance and others on a regular basis. When starting out, there is no shame in working a minimum wage job if that is the only thing available at the time. They can always get one that pays better when it comes available. There are also resources available for those who have a low income that can help them cover some necessities.
Moving While On A Budget
Help them explore their moving options to make the whole experience easier. Family and friends are always a good option; but, just in case they do not have the trucks available or if they find themselves in a brand new town, help them find a good mover in their area. Moving companies such as BC Alberta Movers can help them move their belongings at a good price.
Being A Good Tenant
Be sure to emphasize they need to pay their rent on time or work out a payment schedule if they find themselves short on money that month. Advise them to be considerate of their neighbors by keeping the noise level down in their place and keep damage in a minimum even though some may happen over time.
Not Spending More Than You Have
Teach them about credit and only use credit cards very sparingly or in emergencies only. Advise them to pay them off as soon as they can. This also includes paying bills on time or working out payment options with their creditor. Even though there are some things in life that are unavoidable, it is still important to use credit wisely when possible.
There are so many other things you can teach and advise your kids in their 20’s. This is just a small list of the financial aspects of life. Other things include relationships, safety, health and career, and there is still so much to write about; but, here is one last word of advice for them. Most of life is about the choices that they will make. Even though it is very important to have fun and to make the most of it, be sure to teach them to be wise in all of their choices, as well. Being wise will save them a lot of stress and heartache in the future.
The Author
April Labarron is a native to Southern California. She has her BA in English/Literature from MSJC in Menifee, Ca. She views her freelance writing, not only as a career, but as her passion. Other areas of interest include movies, food, singing, soccer, traveling, shopping and a continuous desire for learning. She lives on her own and is accompanied by her Pomeranian named Elvis. She currently resides in Temecula, CA.
April is the author of an earlier and very popular submission, Character: Five Values to Instill in Your Children. Make some time to check it out.
