Is Living With Your Parents to Save Money a Good Idea?


You spend your entire childhood (or teen years, anyway) looking forward to the day you get to move out of your home and leave your mom and dad. They’re so bossy with their ‘rules’ and their ‘regulations’ and their ‘expectations’ all designed to ‘keep you safe and productive and provide you with a successful future,’ stuff (I mean, how dare they).  As someone who was once a child and then a young adult fresh out of college and getting married as well as someone who is an adult with children of my own now, I can see both sides of the living at home to save money debate, and it’s a big one. Is it a good idea to live at home with your mom and dad so you can save some money? There is no right or wrong answer, you know. There is no black and white in this very, very grey area. You have to make this decision based on your personality and your relationship with your parents; if you came here looking for a yes or no answer, you’ve come to the wrong place. In theory, it’s not a bad idea. In reality, it could go either way. So we will help you decide if living with your parents to save money is a good idea or not.

Do You Have Kids?

If you already have kids of your own, this could become a huge factor in making this decision. You might not love the idea of having your kids around your parents if your parents feel the right to discipline and manage their lives since you’re in their house. Additionally, your parents might not like the idea of having their grandkids live with them full time if you take advantage of their presence.

Do You Have a Timeline?

If you have a timeline for living with your parents, it might not be a terrible idea. For example, if you say you will live with them for 6 months to save money for a down payment on a house, then do that. The final date is good for everyone as long as you stick to it. An indefinite amount of time can be a little stressful on everyone involved.

Do You Have Limits and Rules?

The most important thing to consider is limits and rules. If you have them, it will probably work. If you don’t, it won’t. You should all respect one another’s privacy as far as every aspect of your life goes, and you should respect the rules of the house. You have to have consideration for the people you life with, even if you’re an adult and so are they.

Photo by Julie Denesha/Getty Images


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