Tag Archives: Boomerang Children

Money Tips for Rebound Kids

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Most young adults eagerly look forward to the day when they will be able to break free of the restrictions of their parents’ home and move out into their own place. The ability to earn enough money so that they can become financially independent is a major milestone in their lives.

However, there are times when adult children, who had previously flown the nest, decide to go back home to their parents. Inadequate earnings, failure to secure steady employment, job loss, illness or divorce are some of the reasons that may turn them into ‘rebound’ or ‘boomerang’ kids.

It can be very demoralising for adults to be forced to return to their parents’ home because of financial difficulties. They may feel a sense of failure that they could not make it on their own, worry that they are being a burden on their older relatives, and be despondent about their future prospects. Continue reading Money Tips for Rebound Kids →

Balancing Boomerang Kids

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Twenty-nine-year-old Robert was confident that his MBA in finance would secure him a solid career and a comfortable future. After getting laid off from his enviable position at a top financial institution, he found it difficult to replace his income and had to accept a job with a 50 per cent pay cut.

Unable to afford his rent and faced with mounting unpaid bills, Robert had no choice but to move back home with his mother.

Susan, a 46-year-old divorcee, had very little to fall back on after her husband of 25 years left her. She had not worked for a long time and was desperate without a place to call home. With no children, the only place she could turn to for help was her elderly parents.

Despite her best efforts, Susan has been unsuccessful in obtaining a job and feels frustrated about being dependent on her parents for survival. Continue reading Balancing Boomerang Kids →