A new article from smh.com.au looks at the impact of the recession on the so-far easy lifestyles of Generation Y, many of whom have the financial buffer of still living at home.
The article figures Generation Y is going to be just fine:
Of all the generations, gen Y is the one most likely to cope well. Their extended “adultescence”, with no spouse, children or mortgage, means they will be the last to rein in their spending. Although their confidence – after a lifetime of being told they’re infallible – will be shaken, Salt [a demographer with KPMG] believes their adaptability will kick in as a survival mechanism.
If you’re dealing with Generation Y-ers who have recently returned to the nest, a solid communications strategy will be key to making the situation livable for everyone — including the kids with the shaken confidence and possibly bruised egos. You can find tips for communication with your adult children moving home here.