How much money do you give your new college grad a month to get started?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming no college loans to pay and kid is working a low-paying/entry level job in a high rent city like New York or San Francisco, how much do you cover financially? Rent, extras? Thinking ahead and would like to plan.

ZERO. NADA. ZIP.

My kids are adults. They pay their own way. If they can't afford NY or SF, then they can live at home for free.

Don't raise freeloading, dependent children. Cut the strings, OP. Don't give them a dime.

Oh, and I have the money, plenty of it. But I want my children to grow up into mature, responsible adults, so they aren't getting any of my money for a very long time.

Hi Mom and Dad! I didn't expect you on this forum. We're all doing fine.

I should hope so, you're a grown ass adult

And the same goes for you when you are old… you’re a grown ars adult get your own ride to doctors, pay your own way, find your own nursing home, figure out your own taxes… you’re an adult.

[Anonymous]

We did pay a security deposit once. He was on out insurance till 26. Still on phone plan..

Other than that five years out of college, in NYC and he pays his own way (and not in a very high wage line of work either).

Whether you are 1% or not, everyone’s gotta be independent!

[Anonymous]

First 2-3 years,if the job is in the same city, the kid lives at home. Saves everything and leave only if they can put down a down payment.

[Anonymous]

Depends on a lot of things.

I would do everything to help my kid succeed. But, it also depends on the character and ambition of the kid. If my kid is a slacker, they would be on a very tight leash. If they are driven, hard working, thoughtful, strategic, I would help them get established.

For my kids, I am paying or helping them in their education, getting on their feet in the adult world, and wedding. After that,I am done with my parental duties. After marriage, they have to live within their means and figure it out.

But, this does not mean that I will not give them support willingly later in life, I will just not owe it to them as part of my parental duty.

[Anonymous]

Anonymous wrote:Assuming no college loans to pay and kid is working a low-paying/entry level job in a high rent city like New York or San Francisco, how much do you cover financially? Rent, extras? Thinking ahead and would like to plan.

$2k for rent, pay for airfare and cabs, pay for blue apron meals. Pay for cell, medical insurance.

[Anonymous]

Anonymous wrote:Assuming no college loans to pay and kid is working a low-paying/entry level job in a high rent city like New York or San Francisco, how much do you cover financially? Rent, extras? Thinking ahead and would like to plan.

Why did your kid choose to work a low-paying job in a high rent city?

[Anonymous]

Anonymous wrote:We did pay a security deposit once. He was on out insurance till 26. Still on phone plan..

Other than that five years out of college, in NYC and he pays his own way (and not in a very high wage line of work either).

Whether you are 1% or not, everyone’s gotta be independent!

Yes but your thesis does not prove out.
Some people get help and are very independent, some don't and are very independent.
Some people get help and are never independent and some get no help and are never independent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Assuming no college loans to pay and kid is working a low-paying/entry level job in a high rent city like New York or San Francisco, how much do you cover financially? Rent, extras? Thinking ahead and would like to plan.

Why did your kid choose to work a low-paying job in a high rent city?

You mean like working on the hill?

[Anonymous]

Anonymous wrote:What about paying for phone plans and car insurance?

I still pay for both kids cell phones (the oldest is 30). We paid the insurance on both kids cars because they were both in our name so we didn't want to take any chances. Both cars were purchased when they were in high school. DC1 sold that car after a few years, DC2 is still driving it but has just recently started paying the insurance directly and I trust him to do it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My parents paid my deposit and one month's rent (which had to be paid with the deposit) for my first apartment (which was a room in a group house - nothing fancy). That was a huge help but then nothing else.

That’s considered one of the biggest barriers for homeless people to find homes. Often it’s 1st mth, last mth, deposit and in NYC a fee

Umm…what fee? There is not some mandatory fee in nyc (New Yorker here) and there are plenty of no broker buildings that are run by reputable management companies (Google “two trees buildings”), but you do need to pay federal, state, and *city* taxes on what you earn…which is a lot of $$ coming out in an already high cost of living area.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My parents paid my deposit and one month's rent (which had to be paid with the deposit) for my first apartment (which was a room in a group house - nothing fancy). That was a huge help but then nothing else.

That’s considered one of the biggest barriers for homeless people to find homes. Often it’s 1st mth, last mth, deposit and in NYC a fee

Umm…what fee? There is not some mandatory fee in nyc (New Yorker here) and there are plenty of no broker buildings that are run by reputable management companies (Google “two trees buildings”), but you do need to pay federal, state, and *city* taxes on what you earn…which is a lot of $$ coming out in an already high cost of living area.

When Iived in Boston, it was hard to find a no fee apartment. And even without a few, some apartments ask for first and last month's rent up front plus a one month deposit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming no college loans to pay and kid is working a low-paying/entry level job in a high rent city like New York or San Francisco, how much do you cover financially? Rent, extras? Thinking ahead and would like to plan.

Why did your kid choose to work a low-paying job in a high rent city?

You mean like working on the hill?

Exactly, my DS would like a Hill job, and knows he'd probably have to live home for a while, but the expereince is worth it. We'll see, he's only a junior.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Assuming no college loans to pay and kid is working a low-paying/entry level job in a high rent city like New York or San Francisco, how much do you cover financially? Rent, extras? Thinking ahead and would like to plan.

ZERO. NADA. ZIP.

My kids are adults. They pay their own way. If they can't afford NY or SF, then they can live at home for free.

Don't raise freeloading, dependent children. Cut the strings, OP. Don't give them a dime.

Oh, and I have the money, plenty of it. But I want my children to grow up into mature, responsible adults, so they aren't getting any of my money for a very long time.

Hi Mom and Dad! I didn't expect you on this forum. We're all doing fine.

I should hope so, you're a grown ass adult

And the same goes for you when you are old… you’re a grown ars adult get your own ride to doctors, pay your own way, find your own nursing home, figure out your own taxes… you’re an adult.

you forgot to mention . . . PP also needs to stay on top of all the digital AI scammers that are now targeting old people with very detailed info about them. If you are going to be a cold hearted parent and expect us to be “grown a$$ adults” or whatever, you’d better expect what goes around comes around!

btw - I expect nothing but KINDNESS from my parents. They would never use degrading phrases like that.

[Anonymous]

Used car, on our family cell plan, basic business wardrobe. They lived with us during pandemic and saved a lot, and have no education or personal debt. No other support unless an emergency so they must learn to budget and live on what they make and savings. They must cover their own moving, rent, insurance, food, entertainment, and personal care. We’ll pay for them to fly out at Christmas or family milestone events. That’s how young adults learn how far their dollars go and is a motivation to make more money if they want a better quality of life.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My parents paid my deposit and one month's rent (which had to be paid with the deposit) for my first apartment (which was a room in a group house - nothing fancy). That was a huge help but then nothing else.

That’s considered one of the biggest barriers for homeless people to find homes. Often it’s 1st mth, last mth, deposit and in NYC a fee

Umm…what fee? There is not some mandatory fee in nyc (New Yorker here) and there are plenty of no broker buildings that are run by reputable management companies (Google “two trees buildings”), but you do need to pay federal, state, and *city* taxes on what you earn…which is a lot of $$ coming out in an already high cost of living area.

When Iived in Boston, it was hard to find a no fee apartment. And even without a few, some apartments ask for first and last month's rent up front plus a one month deposit.

My kid paid a $500 application fee to rent an apartment to start his job in DC. Refundable only if you don’t get the apartment.