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Stop Enabling Your Children

If your adult children come to you for money, you may be contributing to a crisis in America! That’s right, a crisis! If you want to help your kids, stop enabling them.

Parents are covering a lot of their grown kids’ expenses and many young adults are living at home longer to save money, but the financial strain is affecting parents.

More than half of millennials and a third of Gen Xers have borrowed money from their parents at some point in the past year. Some on a monthly basis, others on a weekly or daily basis!

Parents are still paying phone bills for almost half of the millennials surveyed and a fourth of Gen Xers! In addition, they’re helping with utilities, car payments, mortgage or rent, childcare and major purchases.

If your grown children consistently ask to borrow money, there’s a problem. Spend time helping them determine what prevents them from paying their bills. Is it their lifestyle, spending traps, or financial illiteracy?

They need help – not enabling. You may have to have the tough conversation and lovingly help them gain financial independence.

Walk them through how to make a budget using only their paycheck, none of yours. Include plans to give, save, and spend.

 It may be beneficial for them to attend a financial class or join a small group for added accountability.

40% of Americans have less than $10,000 saved for retirement. And a Fidelity survey revealed that half aren’t even saving enough to be able to cover basic necessities during retirement.

It’s possible that the strain of helping your children is jeopardizing your retirement planning. By educating your children, both of you can prepare for the future.

As Solomon said, “Whoever disregards discipline comes to poverty and shame, but whoever heeds correction is honored. (Proverbs 13:18)

If your child needs help getting out of credit card debt, call Christian Credit Counselors. They’ll get you started with a free debt analysis today. Learn more by calling us at 800-722-1976 or online at