Research from the online bank Rabobank has found that parents who allow their children to stay at home indefinitely may, in fact, be doing them (and themselves) a disservice.

Stay-at-home siblings can cost their parents pp to $5,000 a year in household goods alone, they generally eat more than those who’ve flown the coop, and are only half as likely to be energy conscious. Moreover, they are failing to learn basic money-management, saving and budgeting skills.

The study also found that never-leavers are a staggering 50 per cent more likely to make impulsive buys each week. This was estimated to add $343 a year to their shopping bill.

Greg McAweeney, an executive at RaboDirect group, explained that giving children an “easy option” wasn’t what was doing them the most harm. Instead, “… if they are missing out on valuable lessons about budgeting and financial responsibility it may turn into one.”

The writing is on the wall. The study also revealed the longer a child remains at home the less likely they are to ever leave.

A third of surveyed 26 – 29 year-olds said they never wanted to move from home.

Either these young people have to be incentivised to change that attitude or the young need to be targeted with greater financial education.

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