Q and A: 'Kidults' still living at home

Tuesday, June 30, 2015

What’s with the increase of the 20-something 'kidults' still living at home and is it a positive for the child and parent?

The active role of parenting is a longer journey today compared to the past- extending from birth, through the dependent years, adolescent years and now well into the 20’s. This has created some new social trends: the boomerang kids (the large number of children in their early 20’s who leave the parental home, only to boomerang back a couple of years later as the costs mount), the sandwich generation (today’s parents sandwiched between the time and costs of their stay-at-home adult children, and the care of their own ageing parents), and this generation of late 20-something KIPPERS (Kids In Parents’ Pockets Eroding Retirement Savings).

However for all the labels, there are some clear reasons for these delayed lifestages. The rising cost of living, housing affordability challenges, prolonged educational years and consequently larger study debts have put this generation further behind where their parents were at the same age. In addition to the higher costs, greater debts and delayed earnings are the mobile lifestyles, technology expenses and increased travel, all greater than that of their parents.

Therefore for a generation who have pushed marriage and starting a family back, from the 20-something years into the early 30’s on average, staying longer with mum and dad is not only a social option but for many a financial necessity. Based on modest rental costs, this option of staying at home with mum and dad, when compared to even modest shared accommodation costs of $250 per week represents a saving of around $15,000 per year by the time that the saving on some food and bills are included.

However, while there is a financial cost on parents, there is a social gain. Many parents in conversations with me have expressed that while they jokingly complain about the arrangement, the connection it gives with their children, the likelihood of them staying nearby as the grandchildren appear on the scene, and the many ways that it keeps parents in touch with some of the trends and changes of Generations Y and Z are all great benefits.

The key to family harmony in these new households is to ensure that parents and their payments aren’t taken advantage of, and that the adult children aren’t treated once again as dependents. A simple agreement setting out the financial contributions and domestic tasks of the family members, with an expiry date when the agreement can be re-assessed is a practical help. That way we will likely create multigenerational harmony not intergenerational conflict.


FOR MORE INFORMATION:

More on changing household structures can be found in Mark McCrindle’s book The ABC of XYZ: Understanding The Global Generations.


Welcome to our blog...

We have a passion for research that tells a story, that can be presented visually, that brings about change and improves organisations. And we hope these resources help you know the times.

Our Social Media Sites

Facebook | McCrindle Research Social Media YouTube | McCrindle Research Social Media Twitter | McCrindle Research Social Media Flickr | McCrindle Research Social Media Pinterest | McCrindle Research Social Media Google Plus | McCrindle Research Social Media LinkedIn | McCrindle Research Social Media Mark McCrindle Slideshare


Last 150 Articles


Tags

events customer australians staying home more collaboration NBRS Jura Australia teaching schools casual income World Water Day professional services media equip Generation Y research visualisation trend tuesday seasons WA event volunteers norwest engage career high density sustainable travelling education sector renting hobart sydney speaker mccrindle tea home ownership household January 26th post rationalism census results Australian Dream anzac kate middleton technology social lives typical australian royal family rain long weekend the australian dream domestic Kirsten Brewer internships sun poker master FOMO 2020 overcast dessert Western Australia ethnography snapshot February 16 story men sunburnt country paying to work presentation research services Mark McCrindle generations study townhouses Real Estate Institute of Victoria belief capital city train changing face of sydney cost of living omnibus researcher statistics high school the changing face of digital local workforce 2016 census internet Generation X future proofing growing population financial population growth TDE organisational culture System's Architect social enquiry Financial Planning Week challenge New Zealand sentiments education future report census Merry Christmas repayments language alpha royal influence hopes property volunteering online shopping ashley mckenzie ideas Cobbitty-Leppington baby names report Queensland urban living index communications royal baby giving tea volunteering data SRE teach holiday monarchy Deaths office space salary quote relevant VET sydneysiders child care employment twentyseventeen names families Australian Families donation skills national private wealth Melbourne Christmas presents impact VIC jobs of the future financial planning cultural diveristy future of education safe ACT personalities google trades aussie culture divorce rate family geomapping New Zeland mobile owning a home data schools students live the dream micro property market Australian schools Financial Planning Association choice workers socialites spirituality grandparents chairty interactive focus group the great screenage data visualisation 24 million social commentator faith generation cancelling plans cooking vegemite proactive infographic wall australian group housing market rent jobs Wellington university degree the hills debt small business Australia Day leadership workshop food bank Work place victoria Gen X workshop 2014 potts point baby name trends PSI australian real estate school students award winner faux-cilising buildings "know the times" urban mythbusting households waverton cica renter of the future Northern beaches Event parenting happiness royal millionth internship mentor community HSC house price average sydneysider Willowdale product 10 years water religion energy housing growth sector work mates trends of 2016 crows nest new office Caregiver sector wide study Jura Coffee Northern Beaches SMART australia supply and demand trends analyst Wodonga survey design land of the middle class graphs educhat REIV National Conference wage demographic trends gender Australian community trends capital cities Queensland: QLD market research micro apartments research data balance offenders average aussie 1994 suburbs charities investing facts Sydney’s south west wages debate resource VET sector huffington post emerging technologies increasing densification Res Vis meetings dream etiquette local communities ageing real economic social life collaborative suburb Christmas season population meals apartments Elderslie-Harrington park contiki responsive brands baby name Kiwi friendship cultural diversity education research affordable australian communities trends report learner lifestyle presentations work-life Australian demographics couple know the times research on coffee office marketing eliane miles teacher professional development future of shopping Canberra bureau McCridle public speaking Gen Y marrickville states 40 million donate economy australian community trends report socialising work deloitte tv infographics new york times area conference speaker shbc narcissism criminal SA population map staff mother's day the lucky country ferry property price baby names australia report selfie sydneycity financial fears Vocational education builders research money stats Real Estate DIY generational trends growth tertiary education woolworths not for profit social goals breakfast year 12 Christmas lunch divorce Scouts millennials father's day brand experience sydneysider conference presentation year 7 environment stay home investor apartment google for education Valentine’s Day professional presenters keynote speaker student video fresh wealth inequality gen z SMSF students educated learning IT Specialists authenticity education dare to dream brand school satisfaction average Australian training 23 million Territory TED talk keynote plans Australia street results optimistic earn middle class futurist prince george sector wide social change aged care puzzle teleworking moreton bay emerging trends low density employmer demographic community event NT 2016 census results NEETs sydney event charity visual Tuesday Trends 2016 TED office opening celebration the average aussie wedding ACF2017 friends Australian Home culturally diverse social trends cancel plans annual income 1975 non profit Charlotte identity innovation shopper's pick infographic Births focus groups media commentary forecasting Andrew Duffin Population Clock hills shire acf15 national crime rates forum travel South Australia The ABC of XYZ insights fears in depth interviews Assistant Store Manager australian communities forum mover and shaker darwin census data shopping centre poor Aussies housing women rise of local resilience rental stress outsourcing high density living speakers pack REIV Conference baby unemployment teachers house prices clothing business index Myth urban taskforce GPO spend Social Trend school employmee trends of 2017 optus my business awards award organisations financial dreams learning styles future proof 2015 moderators guide city social media workplace mining boom 24,000,000 media release Australian Trends 1980 christian commute innovative engagement tips Australian Communities Trends cloudy days social issues business performance social research eliane Crime Rates 2012 winter faux-cilise Australian Bureau of Statistics employers social impact Netflix cartodb census 2016 hunger baby boomers millenials gig economy christianity online sunny days healthy future future of work generation alpha education future coffee cold community engagement manly recap tattoos TAS ACT Report NFP event hello fresh ashley fell census fail communities perth public holiday megatrends qualitative research forecast NSW Sydney ultimo TEDx baby name predictions Christchurch consumerism menai thrive newspaper university Adelaide future-proof visualisation gig ABS state life English young people cash careers business crime commuters Wagga Wagga care support tableau emerging generations Channel 7 Financial Planning Association of Australia home owner parents program Mount Annan-Currant Hill dreams mateship Australian communities high density apartments coffee lovers retirement JOMO staying in baby names ageing population Word Up suburban living world youth day pharmacy demographer nfp Tuesday Trend rich learn blaxland 2013 sports gen alpha mccrindle in the media earning entertainment food CPI not-for-profit wealth social researcher entrepreneur Australian Census report baby boom define aged care rising house prices news click FPA earnings bus summer children optus goal social commentary Duchess of Cambridge intern logan gold coast government princess charlotte curiosity marriages trends grave decision wellbeing Australian Population storytelling professional brisbane house price rise screenage litter demographics insight Australians weather shopping demographic transformations culture unaffordable food insecurity 1968 mortgage global participants CBD budget holidays investment mccrindle research Skilling What is food insecurity? Sydney keynote speaker church DESTEL wealth and income speakers financial future group session Research Executive change Love greatness global financial crisis not for profit research affordability generation Z networking sydney metro faux-ciliser Education Future Forum public speaker McCrindle Speakers global generations Northern Territory list young australians leader personal growth mythbusters population milestone Do It Yourself vegetarian follow social shifts demography The Daily Edition entrepreneurs of today wolloomooloo in the media local community tuesday pyrmont daily commute Aussie bondi data analyst communicate financial independence youth unemployment ACF 2016 Hornsby Shire Council medicine going out environmental scanning easter slideshare easy rider speajer James Ward wealth distribution daily telegraph research pack Hills Shire Council Northern Beaches Christian School finance pharmacies workplace culture society trends rule keeper purpose cars priorities Engineering Manager housing trends communication wealth and income distribution entrepreneurial conference shifts cost publication Royals conferences Channel Seven hills Australia Day 2017 New South Wales housing affordability media activity neutral bay Sydney Hills Business Chamber weekly earnings 2017 world society ACF17 volunteer urban living hornsby experience Macquarie University trend christmas speaker research report sydney hills dreaming leadership thought leadership australian social research politics showreel future national wealth professional speaker EFF ACF Geoff Brailey the hills shire Research Director analysis relational residents winter blues ipswich case study panel Tasmania cancelling event transport NBRS Architecture survey village social analysis social researchers mccrindle consumer car motivate home house living youth #censusfail marriage Bathburst toys ease of travel lalor park

Archive