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Anthony J. Bardi
Registered Representative
Enrolled Agent, LTC# 454
Tax and Financial Solutions, Inc.
151 SE 223rd Avenue
Gresham, OR 97030
Phone: 503-666-7909
May/June 2021
On Their Own
Student loan debt, job loss during the pandemic, or even fear of being on their own are some of the reasons why many young adults decide to live with their parents. Here are some steps you can take to get your child started along the path to independence.
Decide on a Timetable
Ask your child what he or she thinks is a realistic time frame for moving out. By agreeing on a date in advance, your child may be more likely to adhere to it.Give Budgeting Lessons
Now is the perfect time to discuss the steps involved in creating a budget. Ask your child to track spending for a few weeks. Your child’s current expenses might include car insurance, student loan payments and cell phone plan costs. But, in the future, your child also will need to budget for items such as rent, utilities and food.Encourage Automatic Savings
Your child should have money from each paycheck automatically transferred to a savings account. Doing so can provide the cash needed to rent an apartment.Offer to Match Funds
Provide an incentive to leave the nest by offering to match any money your child saves while living at home.CONTACT US
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Tax and Financial Solutions, Inc. and LTM Client Marketing are unrelated companies. This newsletter was created by LTM Client Marketing and was not written or created by the named financial professional and does not necessarily represent the views and opinions of Avantax Wealth Management® or its subsidiaries.
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