Nimi's Nuggets on learning to be independent at a young age

Personal finance expert Nimi Akinkugbe, has some nuggets for the young people on learning to be independent, at a young age.

Read the nuggets below:

"I often talk about "The Boomerang Generation," which refers to the phenomenon of our youth returning home to live with parents after graduation.

When they are home, many do not give a thought to household expenses such as diesel, power, food and so on.

Being totally dependent on parents cannot prepare you for independence. You will probably have a false sense of financial freedom as you are not paying rent, contributing to fueling the car, not paying utility bills and so on.

Parents in this situation can have the children pay some of the household bills or encourage them to share a place with peers or colleagues. Get them on their own two feet as early as possible. You don't want to have dependent adults in your retirement years just because you didn't make this a priority now."