Is your adult child struggling with debt? While your offspring may not be eager to share this information with you, they may unintentionally display signals that indicate that their finances are in trouble.
Here are five signs to watch for -- and how you can help once you've seen them.
1. Heightened stress
Debt can create stress even if you are able to pay it. "It creates stress because it's there," says David Jones, president of Association of Independent of Consumer Credit Counseling Agencies. "When your son or daughter is worried about debt and struggling to pay bills, their stress levels can heighten and they may act out in unexpected ways."
College graduates are dealing with the double stress of low salaries and heavy student loan obligations, according to Jones.The Consumer Financial Protection Bureau estimates that students and graduates are currently carrying $1 trillion in student loan debt. The average debt is $24,301 and 60 percent of students borrow annually to help cover costs. Jones knows a young woman in her 20s who borrowed $70,000 to pay for her undergraduate and graduate degrees. Now she is feeling the financial strain of paying her student loans each month. "Making those payments is just a back-breaker," Jones explains.