Your child might be 18, 21, or 25 – but at any age, it’s hard to see your kid grow into an adult and move out of their childhood home. Before they do, however, be sure they understand a few things about the real world so they aren’t struggling more than they need to.
1. How to Buy a Car
First, teach your kid the process of buying a car. Whether they’re driving their cousin’s old beater or moving to a city where a car isn’t needed, it’s still a good idea to go over the process. Not only will it be helpful to have an idea of the finances associated with a car, but even if they don’t end up needing one down the road, they will see just how expensive adulting is.
Go through the process of choosing a car by looking at its make, model, year, and color. Be sure your child knows to obtain proper inspection paperwork and to have someone thoroughly go through each of its features before they make a decision.
Then, be sure your child understands not only the amount the car costs to buy but also the costs associated with it. An estimated 77% of cars are in need of maintenance or repairs – and certainly every car at some point will have to go into the shop for an issue. Not only this, but maintenance costs include inspections, oil changes, and adding air to the car’s tires. Along with car insurance, all of these costs certainly add up. Your child should have a basic understanding of all of these finances associated with cars before they move out and begin making other big financial decisions.
2. How to Manage Their Finances
Along with finances associated with vehicles comes finances associated with, well, pretty much everything else. Between rent or mortgage payments, bills, groceries, gas, student loans, and fun purchases, your bank account can seem like it’s draining all of the time. It’s important for your child to understand just how expensive it is to move out. Not only is it difficult to juggle the responsibilities that come with adulthood, but you have to be sure you’re not spending too much money on fun things – which may be difficult for a young adult freshly out of their parents’ house.
Before your child moves out, be sure they know how to budget for all of their bills and necessities. Then, perhaps have a particular amount of money set aside for spending on fun things, such as going out to eat or on clothes and shoes. If your child understands how to budget their money before moving out, then they will – hopefully – not be calling you for help with rent.
3. How to Make Appointments
Many parents take on the responsibility of calling and making appointments for their children as they’re growing up. Once your kid is finishing high school, though, it may be best to teach your child how to do it themselves. Not only is this a good opportunity to teach social etiquette, but it will also be one of many things they will have to start doing on their own once they leave home.
When it comes to appointments, going to the doctor is something many young adults start to do on their own. Be sure your child understands what insurance they have and how to utilize it when it comes to making appointments with doctors, dentists, and specialists. With the many kinds of insurance out there, it’s good your child knows the differences. For instance, they should know the difference between Medicare and Medicaid. Medicare plays a key role in providing health and financial security to 60 million older people and younger people with disabilities, while Medicaid helps cover medical costs for people with low income and resources. You don’t want your child accidentally telling their doctor that they are covered by either of these forms of insurance if they aren’t.
4. How to Live With Roommates
Whether your child grew up with siblings or not, living with roommates is a whole different story. Be sure your child is ready to handle the responsibilities that come with living with their friends. Teach your child how to have an adult conversation with their roommates as well as how to divvy up responsibilities and costs within the apartment or house. Not only can living with friends be difficult, but this adult step can be a lot more overwhelming than anticipated if your child isn’t ready to take care of a new home as well as balance friendship and adult responsibility.
5. How to Pursue Their Dream Career
Finally, teach your child how to go about pursuing the career of their interest. While your child may have an idea of who they want to be after moving out, be sure they understand the responsibilities that come with pursuing an adult career. Nearly 76% of survey respondents feel tattoos and piercings hurt an applicant’s chances of being hired during a job interview. Surprising, right? Whether or not this is applicable to your child, be sure they understand how important appearances are in the professional world. How you present yourself to the world is essential when it comes to finding a job you want, so be sure your child sees how entering adulthood may mean making some sacrifices in order to achieve their goals and dreams.
Entering adulthood means moving out, handling your own finances, and learning how to handle both your professional and personal lives in an adult manner. Be sure your young adult understands the responsibilities associated with adulthood before they move out. While your child will surely learn as they go, it’s best to give them a head’s up. After all, seeing your child move out will be hard – so prepare them for the world they’re about to enter.