the lights, having shorter showers and unplugging computers from the wall at night can all make a
big difference to household running costs. By setting these expectations early on, your kids will be on
the right path to managing their own expenses when they leave home.
4. Cost of responsibility
With the cost of rent increasing, young adults are flying the coop much later in life. It’s important to
ensure children over the age of 18 are contributing to household expenses financially, rather than
simply helping out with chores. Sit down with your child and go through your household expenses.
Explain that in order to remain at home, you expect them to set aside weekly amounts of money to
cover their share of board, groceries, utilities and mobile phone costs. Not only will this give young
adults a greater share of responsibility, it will also encourage them to enter the workforce.
Nothing in life comes free, and the earlier kids learn this, the better off they will be when it comes
to managing their own finances as they get older.
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