Today my friend Mila is giving us some much needed advice about living with your parents post college. Let us know what you think!
Many of us Gen Yers and Millennials have had it rough financially. Throughout all of high school, we are told to go to college, even if we have to pay for it ourselves. So we go, and end up coming out with a semi-useless degree and A LOT of debt.
Cost Of Living Is Skyrocketing
Then, we live in a time where cost of living is continually skyrocketing, but our salaries (if we are lucky enough to have found a job) are not increasing with the times, leaving a living wage pay gap. This makes it difficult for us to pay rent, our student loans, and all of our other bills, while still trying to find money to buy groceries. Forget about actually being able to save emergency money!
So, some people have opted to (or really have no choice but to) move back home with the parents. I am one of these people. I sometimes feel embarrassed about it, but I just have to remind myself that moving back home has become increasingly common with our generation, and there is nothing to be ashamed about.
Living Paycheck To Paycheck Is Stressful
Living on your own and having to live paycheck to paycheck is extremely stressful. You are constantly worried that if you miss one day of work due to illness or family tragedy that you will not be able to pay your bills. Moving back in with your parents can help alleviate that stress, but it can introduce another…
Living With Your Parents Can Also Be Stressful
Living with your parents as an adult can be stressful in it’s own way. Going from having the freedom to live how you want to having to follow house rules again can be tough. Don’t get me wrong. I LOVE my parents dearly. But, I’m in my late 20’s, and I’m ready to be living on my own for good!
Buuuut, my finances don’t allow it. True to everything I said at the beginning, I’m working on paying my student loans, and I don’t get paid enough to afford rent and all my bills. And I’m sure others in my situation are doing the same.
But At Least You Can Build Your Savings
Living with your parents gives you a chance to relax about your money problems for a bit. You can take the money that would have gone to rent, utilities, and groceries, and put it towards your other bills and focus on putting money in your savings. In the year I’ve lived with my parents, I have been able to build up my savings quite a bit, which has allowed me to be able start planning when I can make big purchases, like buying my own house.
Making Sacrifices To Meet Your Long-Term Goals
There are definitely frustrating things about living at home. You can’t host parties (even the mild kind!) whenever you want, you have to respect the rules of the house, and you can’t decorate or organize the things in the house the way you want them to be. But sometimes you have to make personal sacrifices for a time to be able to find some stability.
So, to those of you who are back at home living with your parents, try not to feel bad or embarrassed about it. It’s something many others are having to go through, and it’s better to feel secure than to be stressing all the time if you are going to have enough money to last you the month. Living at home isn’t a sign you’ve failed life, it’s an opportunity for you to focus on saving and getting financially stable. It’s not permanent, and in no time, you’ll be back out there living on your own, taking life by storm!
Bio: Mila Sanchez is a writer with a BA in English Linguistics living in beautiful Boise, ID. Her ambitions include traveling the world, studying languages, and taking pictures of her dog, Baymax. Connect with her on twitter and instagram!
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Books to help you deal with your twenties:
- 101 Secrets For Your Twenties
- Life After College
- The Defining Decade: Why Your Twenties Matter & How To Make The Most of Them
- Adulting: How To Become A Grown Up in 468 Easy(ish) Steps
- All Groan Up: Searching For Self, Faith, and A Freaking Job!
Other stuff you might like:
- Generation Y Redefines Success
- How To Be Rich in Your Twenties
- The 5 Most Valuable Lessons Grad School Taught Me
- Pursue a Lifestyle, Not a Job
- Why It’s Okay to Be Excited About the Awesome Stuff You’re Doing
- Why We Need to Get Over Our Fear of Rejection
- Don’t Wait, Be Happy Now
- The 5 Best Investments You Can Make in College
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