Intergenerational Financial Transfers and Young Adults’ Transitions In and Out of the Parental Home

Moving out of the parents house is one of several signs that a person is becoming an adult. Young adults develop a sense of independence when they leave the family home. Having an autonomous way of life, obtaining personal autonomy, and establishing social connections are some more advantages (Manzoni 349). Moving out of the parental house is influenced by a number of circumstances, such as going to college, the family's socioeconomic status, pursuing an independent lifestyle, and getting married, among others. In as much as the transition to adulthood is an essential phase of life, some young adults leave the parental home but keep returning over time. The reasons for return are mainly economic. Studies have shown that when a young adult delays leaving the parental home, the rate of returns increases. This research focused on establishing how socioeconomic status and college attendance (regarding college timing and the type of college) affect intergenerational financial transfers and the youth’s living arrangements (Manzoni 350).

Moving out creates partial or full independence, which is essential in the transition to adulthood. Partial autonomy refers to the state whereby a young adult is living independently but still receives parental support (Manzoni 352). Independence, on the other hand, is the state whereby the young adult gets no financial support from the parents, and there is no direct supervision (Manzoni 352). Parental support is mostly in the form of financial help and living arrangements. Many young adults prefer living alone, especially when they move out because of college (Manzoni 350). Hence, parents offer substantial help to their young adult children who have moved out. Parental assistance is affected by the socioeconomic status as well as college attendance (Manzoni 351). Yong adults from families of a higher socioeconomic status are at a better chance of moving out from the parental home and receiving parental assistance as compared to those from lower socioeconomic status families. The lack of financial independence poses a challenge in role transitioning, with parental financial aid affecting the transition (Manzoni 351).

This research used data provided by the National Longitudinal Study of Adolescent to Adult Health. Information was gathered on intergenerational money transfers as well as living arrangements. The study looked into the effect of financial support on the movement into and out of the parental home (Manzoni 354). As per the results, college attendance increases the rate of economic dependence. Youths attending college for four years have higher chances of achieving independence as compared to those attending two years or have not attended college at all (Manzoni 360). This trend is popular among young adults with higher socioeconomic status. Higher socioeconomic status dramatically influences more top intergenerational financial transfer as compared to lower socioeconomic status. Moreover, the socioeconomic status affects the timing of leaving the parental home. Young adults from higher socioeconomic status leave home early but also return often because of the financial assistance received from their parents (Manzoni 361). These youths often experience a longer time in partial dependence. Those from lower socioeconomic status hardly leave home as parents opt for co-residence, which reduces costs involved in living arrangements. This condition increases the chances of future dependence.

The study has advanced the notion that parental financial support affects taking responsibilities by young adults, causing a challenge in the transition to full independence. Future research should look into the impact established policies have on economic stratification and residential arrangements (Manzoni 362). Future studies should also look into how different forms of parental support affect the transition to adulthood, not just financial aid (Manzoni 362).

In conclusion, leaving the parental home is necessary for the transition to adulthood. This move creates a sense of independence, whether partial or full. College attendance and socioeconomic status are some of the factors affecting moving out of the parental home. Parental support changes the assumption of responsibilities, making the youth take longer in partial independence. Future research should look into the effects of other forms of familial assistance in the transition to adulthood.

Works cited

Manzoni, Anna. "Intergenerational Financial Transfers and Young Adults’ Transitions In And Out Of the Parental Home." Social Currents 3.4 (2016): 349-366. Web. 27 Nov. 2017.

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