Covering small expenses like a phone bill for your adult children might seem harmless, but according to personal finance expert Suze Orman, it can actually prevent them from achieving any long-term financial goal, or worst case, turn them into lazy, entitled monsters. Many parents continue paying for their grown kids’ bills out of love or habit, but Orman warns that this practice can lead to long-term money problems for both parents and children.
In a LinkedIn post, Orman emphasized how important it is for parents to stop paying for even seemingly small expenses, like phone bills, to help their children become more financially independent.
