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Should You Live with Your Parents to Save Money?

Should You Live with Your Parents to Save Money?Moving out of your parents’ home used to be an established right of passage – a way to escape parental authority and start making your own way in life. The current societal trend is, however, that young adults are making the decision to delay leaving the nest.

A study in 2012 by Pew Social Trends, found that nearly 24% of adults in the 25-34 age group lived with their parents. And the reasons cited, surprisingly enough, are not only financial – the so-called Millennials tend to have good relationships with their parents allowing for collaborative efforts when it comes to day to day living. Further reasons cited include delaying marriage and studying for longer.

Let’s explore whether or not it is a good idea to stay at home in order to save money.

The Advantages of Staying with Your Parents

  • Savings in Rent – While your parents may still require that you pay some form of rent, this is not likely to be as much as you would have to pay on the rental market. There would also be no need to put down a security deposit, which allows you to sock any income away for when you do finally leave the house.
  • Chores are Shared – You’ll probably need to still help out around the house but you won’t be expected to do everything like you would if you lived on your own. The key to making this work is to do your bit – maybe your mom can iron for you and you can cook dinner and take out the trash. It’s important that neither party begins to feel resentful.
  • Company – If you have a good relationship with your parents, you will have company when you get home from school/ work.

The Disadvantages of Staying with Your Parents

  • You are their child – Parents will try hard to treat you as a young adult but there is bound to be some times when both parties fall back into the traditional parent/ child roles.
  • You are not truly independent – You may not have a curfew anymore but you are not entirely independent either – your parents are going to be aware of all your comings and goings and are bound to want to be informed of what your plans are.
  • There is a chance of resentment developing – No matter how well you get on with one another, there is always a chance that one or both parties may begin to feel resentful. You might feel that they are interfering in your life too much and they may feel that you are not respecting them. It can be a fine line to tread.

In the end though, there is no set answer to whether or not you should move in with your parents in order to save money. A lot is going to depend on what your relationship with your parents is like and what expectations you have of each other.

Before making the final decision, it is a good idea to talk to your parents about what expectations they have in terms of how much you’ll help out, what rules will apply and also to let them know what your expectations are in turn.

I did not live at home after graduating college, but I did live at my future in-laws house for nearly 9 months while engaged to their daughter. We were able to save and contribute more to the wedding as a result, and it was a good bonding experience, too. I never would have expected to enjoy it or think it was worth it, but it really turned out to be not only bearable, but enjoyable, too.

At the end of the day, if you are able to set proper boundaries up from the word go, this can be a mutually beneficial arrangement for both you and your parents.



  1. We are living with my mother in law, which is OK, until she’s getting her nose into how I raise my daughter and we clash. Still we do save a lot of money, not having to pay rent, she’s cooking for us (which saves me A LOT of time – I can take care of the baby and run my business). So, I just mind my own stuff and set her straight once in a while.

    • I have a friend who lives in the same city as her mother-in-law and feels it’s overbearing. She can’t wait until the summer when she finishes graduate school and will move back home.

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