So I just read this NYT article, The Bank of Mom and Dad and it's got me thinking. What type of society are we living in, when college educated individuals literally cannot afford to live on their own without additional support?
Some would argue that the cost of living is too high. Sure this is the case in many of the nation's largest cities: San Francisco, New York, Washington D.C., etc. Yet, I managed to live within my means (for the most part) for 7 years in New York City as a teacher. Sure I had to make sacrifices. I had to have a roommate, and we shared a tiny 580 sq ft., 1 bedroom apartment. I didn't eat out all that often. I rarely took cabs, opting to use my monthly Metrocard. Sacrifice helped me to live there.
So what does this say of some of these college grads? They want their parents' lifestyle, without putting in the 20+ years of work to get there. We can't all afford Pottery Barn furniture with Crate & Barrel dishes straight out of college, along with the gorgeous apartment in the city. But most can afford a smaller apartment, in a safe neighborhood, with Martha Stewart dishes and Straight from the Crate furniture. One of the children listed in this article had a dog that his mother was paying $16 per day for doggie day care. What in the heck?! If you can't afford your dog, why do you have it? Why not wait to get the dog until you can afford it on your salary? Why in the world should Mom and Dad have to spend this money after you are old enough and capable?
It is our materialism, pride and greed that allow us to think this is ok. Sacrifice is a word not heard often these days. We live in a society that tells us we *need* it NOW, and we can pay for it later. Credit card debt is not ok. Living off of our parents is not ok once you have the degree and job. Live within your means, and you'll be much better off in the long term. You'll be learning principles that will help you later on in life.