Why your kids can't afford to move out

This post is based on a video that my friend Darla DiGrandi did for a presentation a few weeks ago.

Just how much does it cost to live these days? These numbers are from California and although the exact values will differ based on where you are, the general idea is the same.

Here's the video:

Here are the numbers from the video:

Mortgage/rent       $2000
Electric                $ 200
Water/trash          $   50
Cable/internet       $ 150
HOA                    $ 300
Entertainment       $   50
Maintenance         $ 100
Groceries              $1000
                             -------
Total                     $3850

Car payment         $1200
Insurance              $  150
Gas                      $  600
Repairs                 $    50
Entertainment        $1000
Clothing                 $  150
                              -------
Total                      $3150

Date                      $  250
Gifts/Holidays         $  100
Student loan           $  150
Vacation                 $  300
                               --------
Total                       $  800

Grand total              $7800

The new minimum wage should be $100,000 per year to live on, which comes out to $50/hour.

What job do you know that will pay that much money to a kid just starting out? Or even to most adults?

They (and you) need leveraged residual income, such as what you can make with a network marketing business.

So, start a network marketing business on the side and get your kids to join you.

Here's an article by another friend of mine, Jackie Ulmer, on millennials and  network marketing.

Interesting days

Today - Tattoo Day, Yellow Pig Day, Peach Ice Cream Day, Get Out of the Doghouse Day and World Emoji Day

Tomorrow - Caviar Day and Mandela Day

Next Monday - Drive-Thru Day, Cousins Day, Tell An Old Joke Day and Tequila Day

August 17 - Black Cat Appreciation Day, Vanilla Custard Day, Get Smart About Credit Day and  Thrift Shop Day