Category Archives: Media appearances

My advice in MoneyCrashers

“There’s one more vital detail to spell out, perhaps in your agreement itself: when you expect your kid to move out. Newberry stresses that you can’t simply assume they’ll leave ‘when the time is right.’ With no clear end date, it will always be easier for them to stay than to make an effort to find a place of their own.”

Preparing for adult kids moving home after college

I spoke with AARP recently about how to prepare for adult children boomeranging home after college — something I did myself 17 years ago. (Still think this is a new or temporary trend?)

Here’s the key point, which I can’t emphasize enough:

The end goal, Newberry says, is not to kick them out as soon as possible but to “help them get to the point where they are ready to leave.”

You can read the rest of the article on the AARP’s website, or check out the video below for five key strategies to make the situation work. I recorded this video way back in 2009, so the audio is not the best, but it’s worth bearing with it for the important information.

The Bank of Mom and Dad

globalI spoke with Global BC reporter Rumina Daya today about a new CIBC report that shows one in four parents are spending more than $500 a month to help their adult children cover expenses such as rent, groceries and cell phone bills, and that the most common form of financial support parents provide for their adult kids is free room and board at home (71 per cent). You can see Rumina’s story on Global’s website here.

 

How to handle the finances of a child who moves back home

That’s the topic addressed by an article in the Deseret News that features my advice:

Even a modest amount of cash paid to parents every month carries a benefit beyond the merely financial, Newberry added.

“Adults have financial responsibilities, so it’s important to maintain them even if your child is living at home,” she said. “It’s good for their self-esteem.”

Read the rest at DeseretNews.com

What if the adult kids never leave?

That’s the question posed by a Globe and Mail article published yesterday that features my advice for parents whose retirement is being threatened by adult children living at home:

“A family needs to sit down ahead of time and work out a budget … look at what their existing costs are in terms of paying for their home and things like heat, electricity, insurance and food, then estimate how those costs will be impacted by having another person living at home.

“It’s easy for adult children to go in expecting that it’s not going to cost anything or to be completely unaware of what the costs are.”

Read the rest of the article on the Globe and Mail’s website.

Setting rules for boomerang kids: Sun News Network

Today, Sun News Network has published an in-depth article on how to prepare for boomerang kids to come home, based on my advice:

“There’s a fine line between helping and helping too much, at which point it becomes very easy for your adult child to become dependent on you and not develop the skills they need to become independent,” Christina Newberry of Vancouver says. She’s the founder of AdultChildrenLivingatHome.com and author of The Hands-On Guide to Surviving Adult Children Living at Home.

She offers these tips…

You can read the rest at Sun News Network.