Experts advise parents who want their grown children to move
Experts offer advice to parents trying to convince their grown children to move in themselves.
When Samantha Broxton’s husband was fired, the couple sat down with teenagers to discuss how household budgets would change.
Broxton said the layoffs came unexpectedly in early 2025. President Donald Trump unlocked tariffs on most US trading partners, fears of a recession looming, and businesses were slowing down employment.
Broxton said teens may eat out less and have more conversations about money.
“Even though both of us quickly found great jobs, the world has changed dramatically,” said Broxton, founder of Informaiton and Raisingself.com, a parenting platform dedicated to Informaiton and coaching.
The Broxton family’s conversations show that financial stumbling can change at the moment they are taught – something that many parents need more of their children.
In a recent survey of 1,000 parents of children aged 14 to 18, only 8% of teenagers thought they were “very prepared” to manage their adult finances. This shows a 10-point drop from last year, when 18% reported the same.
Danielle Sherman, CEO and founder of Wired Research, who conducted the survey on behalf of JazMarc Services, said decline makes sense in the current US economic situation while hoping for increased confidence.
“If they feel confident in shaking their preparations or navigating this climate, they naturally continue to be less certain about how well their teens are prepared,” Sherman said.
I don’t have a family to talk about money
The survey said 82% of parents talk about savings with teens, but about seven in 10 people said they were unsure that they were teaching their children what they need to know about money.
Approximately half of survey respondents admitted they had not spoken with teens about sticking to their budgets, managing their bank accounts, avoiding debts, or building good credit.
The majority also said they had not had any meaningful conversations with teens about insurance choices, tax returns filing, investments, financial planning, or goal setting.
Still, 98% of parents surveyed believe it is their responsibility to teach their children how to manage their finances, and 97% believe it is one of the biggest gifts they can give to their children.
Even if you’re not rich, talk to your kids about money
Sherman recommends explaining that parents explained whether budgeting or lack of such a budget has led to bank accounts and whether they have fallen into debt, and how those decisions will affect next month.
“It needs to be normalized,” Sherman said. “These aren’t easy conversations, but they may help keep your teens from falling into the same financial cycle.”
Broxton said her teens were a little nervous after telling them about the layoffs, but she was delighted to be able to reassure her parents that they were effectively budgeting and looking for new job opportunities.
“Your kids will notice changes in your behavior, your pauses, your ‘no’,” Broxton said. “Not talking about it makes them suspicious and uneasy.”
How to teach teens about money
Broxton splits the allowances into children once a month, budgeting a few weeks at a time, and urges them to put their money aside in their savings account.
She also watches her children save for the purchase of splurges. Some lessons learned best from first-hand experience, Broxton said.
“They’re saving your money, buying things and seeing those savings go away. They said, ‘The money’s gone,'” Broxton said. “They have a psychological journey that they can safely experience with their parents without that material risk to their safety and livelihood.”
Josh Marcus, founder of Jazmarc Services, said in addition to teaching the value of the dollar, the first part-time job for teenagers offers the opportunity to teach about taxes.
“In my son’s first job, he was all excited to get his first paycheck, and he stood there staring at it and I could see the confused expression on his face,” Marcus said. “Learn the deductions and numbers and understand the difference between gross wages and what you actually put in your pocket.”
Marcus and Sherman suggested showing the cost of dinner to the teenagers when the bill arrives at the restaurant, or sharing how long it took them to save for family vacations.
“Find moments that you can teach,” Sherman said. It is woven into everyday life. If you can start doing something small just by itself, you are already 10 steps ahead. ”
Reach Rachel Barber at rbarber@usatoday.com Follow her at x @rachelbarber_
