In the fast paced era, due to rapid urbanization needs and the costs for living has been increased for few years. For living a luxury lifestyle a substancial number of youngsters depend on their families because they cannot afford it. This essay will discuss root causes of this issue and proposes viable solution to encourage young adults to be financially independent.
One main cause is the rising cost of housing and living. House prices and rents have been increased significantly. To meet the needs individuals have to have highly paying jobs. Unfortunately, professionals demand experience which freshly graduates lack. As a result, they are often offered by low income work that is not enough to bear their expenses. Therefor, they cannot afford to live independently, eventually depending on their parents. For example, a newly graduate 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 government provide financial support to the citizens by allocating loans, affordable housing socities, 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 in family expenses on basic levels, so they will develop the habit of taking part in household decisions and to lookafter others. This would make them responsible for their own finances. For instance, In western countries like the US, children are not aloowed 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 in often caused by overly priced living areas and other basic needs, though this can be reduced by governmental support and right approach by the parents.