What age should parents cut off kids financially?

JONESBORO, AR (KAIT)- The average cost to raise a kid for 18 years is now $241,080, according to the U.S. Department of Agriculture.

New data from the U.S. Census Bureau shows 32% of adults 18-34 were living with their parents in 2012, which equals about 22.6 million adults.

But even after 18 years, some parents find it hard to cut their child off financially.

"I would say 18 towards 21 because at one point in time you need to cut them off because if they don't learn stability for themselves, you I feel like your parents are not always going to be there," said parent, Tanisha Jones.

Parents are still debating the right age to give kids the boot when it comes to supporting them financially.

"Honestly I'm not sure there is a right age but I think there are things parents can do from a very early age," said Dr. Dana Watson, psychologist at Families Inc.

Watson said parents should teach their kids early on what it takes to be independent.

"Earn extra money for extra jobs is a great way to teach children that when they want things they have to earn the money for them," she said. "As parents we owe our children food and clothing and healthcare and shelter, not necessarily cell phones and designer clothes and fun with friends."

Some parents feel it all boils down to maturity.

"Some kids I think can be cut off earlier because of their independence and also their maturity," said father, Tom Waleszonia.

Watson says the worst thing a parent can do is apologize for cutting the cord.

"It is not at all a failure on a parent's part, it's teaching a child, loving a child enough to teach them financial independence and to be responsible for themselves and take control over their own lives," she said.

But for some adults, there is no place like home.

"One of the biggest factors for being at home and being cared for is comfortable," Watson said.

Being comfortable and knowing Mom and Dad won't turn you away.

"If they need help from time to time it doesn't hurt to help them," said parent, Theresa Vinson.

"Just to completely cut off anyone I think would be tough,"Waleszonia said.

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