Saturday, April 22, 2006

The Bank of Mom and Dad - New York Times

The Bank of Mom and Dad - New York Times: "The bottom line is that the assumption that financial obligations to children ended after graduation from high school or college is going the way of the pay phone. Today, parents are finding that they are on the hook for more, sometimes much more — contributions of thousands of dollars a year to help young men and women get on their feet economically, often into their 30's.

The economic dilemmas facing young adults were chronicled in two recent books: 'Generation Debt' by Anya Kamenetz and 'Strapped: Why America's 20- and 30-Somethings Can't Get Ahead,' by Tamara Draut. Both explore how paychecks have stalled, housing costs have risen, education costs have skyrocketed and credit has become so available as to be dangerous."

No comments:

Related Posts with Thumbnails