A Reality Check For New Adults

Regardless of how well you prepare your child for adulthood, the real thing might sting a little bit.  Help them to blossom into the grand person that they want to become.  Give them lots of love, plenty of support, and a reality check for new adults.

If your young adult is lucky enough to get a job in their field, they may be disappointed to find starting pay that is much less than they had hoped for. When reality smacks them in the face, they might realize that their pocketbook is not quite large enough to trade public transportation in for a new sports car.  They'll be surprised to see that their bi-weekly paychecks are dedicated to first rent and then everything else.  

If they can turn to mom and dad for a little help, they might benefit from a reality check for new adults.  

1. You Are Poor -- Even if mom and dad took care of your every want and need until your final transition into adulthood, you must realize that the money was theirs and not yours.  You, newly adult child, are poor. To show your gratitude to your parents and caregivers, you need to figure out how to live below your means.
2. Real Adults Have Jobs -- Parents who can will continue to offer support for their children. However, don't take advantage of that generosity.  Parents want to see you succeed.  Parents do not want you to wait until the job you deserve comes along.  You have to get into the job market and compete for your dream job just like everyone else.
3. Money Really Doesn't Grow On Trees -- $20 here and there, a free lunch, a nice gift card for your birthday, maybe even deposit money for your new apartment...  these are the gifts that you should look forward to receiving from your former providers.  Once you are a grown-up, you have to work hard for your money.
4. Pre-Debt Consolidation Is A Thing -- Rent, utilities, transportation, and food all cost money.  Make sure that you have what you need and get some of what you want.  Just don't try to do it all alone.  Get a roommate or two to split the bills. For the same price or cheaper than college housing, you can move into a nice apartment with amenities.  
5. Eating Out Everyday Is Bad -- Bad for your waist line.  Bad for your pocket book.  That is all.
6. You Can Save A Little -- Everyone's budget and capacity to save is different.  However, you can still prepare for the unexpected.  Save an emergency fund to cover co-pays and prescriptions--replenish as needed.  Consider saving money each paycheck with the goal of putting away enough money to cover three to six months of basic expenses.
7. Enjoy Yourself Some -- Regardless of how tight your budget is, you have to spend some of your hard earned money on yourself.  If you don't, you might not enjoy "adulting" to the fullest.  For every sacrifice that you make, you need to splurge a little.  Learn to make fancy coffees at home during the week and enjoy an overpriced latte on the weekend.

When your adult child graduates into the real world, help them to make a smooth transition.  Talk to them about how to use their time, money and energy to live the life that they have always looked forward to.