In the fast-paced era, due to rapid urbanization needs and the costs of living have increased for a few years. To live a luxury lifestyle, a substantial number of youngsters depend on their families because they cannot afford it. This essay will discuss the problems of this issue and propose viable solutions to encourage young adults to be financially independent.
One main cause is the rising cost of housing and living. House prices and rents have increased significantly. To meet the needs individuals have to have highly paying jobs. Unfortunately, professionals demand experience which fresh graduates lack. As a result, they are often offered low-income work that is not enough to bear their expenses. Therefore, they cannot afford to live independently, eventually depending on their parents. For example, a newly graduated employee might not have extraordinary skills and enough experience that can make him shine in the corporate world. That is why he has to settle for less while relying on parents for financial aid.
The issue can be resolved if the government provides financial support to the citizens by allocating loans, affordable housing societies, internships, entry-level employment opportunities, and increments. Moreover, parents should encourage children to earn at a young age rather than providing for everything. The head of the house should ask the children to contribute to family expenses on basic levels, so they will develop the habit of taking part in household decisions and looking after others. This would make them responsible for their own finances. For instance, in Western countries like the US, children are not allowed to live in their own house after the age of 18 without paying for their expenses. As a result, they become independent from an early age without becoming a burden on their parents.
In conclusion, financial dependence is often caused by overly priced living areas and other basic needs, though this can be reduced by governmental support and the right approach by the parents.