Jump to content
Acne.org
Search In
Find results that contain...
Find results in...
electric_feel

Twenty-something, and still living with parents

Recommended Posts

I am 25 and I still live with my parents, I was dealt a bad hand when I was younger with a vehicle I financed, as a result, my credit was tarnished. With bad credit, it's difficult to get a place of your own. I moved out once for 6 months before the credit situation, but my roommate found another place, because we were not compatible living together. I had to move back in with my parents, that was 4 years ago. I have worked full time since I was 19, and started going to school part time since moving back in with my parents.

I pay for all of my expenses: car, cell phone, food, clothes, insurance, and tuition. On top of that, I help out here and there with bills my parents can't afford to pay in full. I wash my dish when I eat, and I clean my room and do my own laundry. For the most part, I'm autonomous, but not fully. That bothers me. I don't pay rent, because I want to save money to move out, and if I paid rent to my parents, I would not be able to do that. My brother pays some rent, he's older than I am, and lives at home too. He sometimes gets on my case because I do not pay rent monthly. My argument is that I pay for my college tuition (recently applied for financial aid, and waiting to hear back), and I want to save to move out. I feel this is a fair argument.

Is anyone in the same situation? Twenty-something, and still living at home with mom & dad? I realize that with the downturn of the economy, more and more people are moving back in. It's quite the epidemic. I just want to hear similar stories, so that I won't feel so bad about my situation. :)

Share this post


Link to post
Share on other sites

23 living at home here.

I graduated with almost $33,000 in debt, and shortly after graduation my fully paid for Chevy died. (Well, my mechanic found a problem that would have cost a LOT to fix, and I had already spent way too much on other serious repairs)

I decided to buy a new car, figuring that I would get something that wouldn't break down as often and I would have for a while.

Luckily, parents pay for my cell phone (we have a family plan so it's only 10 extra dollars a month) and my car insurance. I pay for everything else. In fact, I bought my parents a new TV and have been paying for vet visits for our dog. So, I pitch in.

Luckily, I've been able to put down a lot of money on my loans. From a year and a half ago, I've reduced my $33,000 debt to $10,700. I should be done paying it off by June/July.

Then the question is, do I then want to aggressively pay off my car, which by that time should only take me 6 months to do?

I might. I like being debt free.

Share this post


Link to post
Share on other sites
23 living at home here.

I graduated with almost $33,000 in debt, and shortly after graduation my fully paid for Chevy died. (Well, my mechanic found a problem that would have cost a LOT to fix, and I had already spent way too much on other serious repairs)

I decided to buy a new car, figuring that I would get something that wouldn't break down as often and I would have for a while.

Luckily, parents pay for my cell phone (we have a family plan so it's only 10 extra dollars a month) and my car insurance. I pay for everything else. In fact, I bought my parents a new TV and have been paying for vet visits for our dog. So, I pitch in.

Luckily, I've been able to put down a lot of money on my loans. From a year and a half ago, I've reduced my $33,000 debt to $10,700. I should be done paying it off by June/July.

Then the question is, do I then want to aggressively pay off my car, which by that time should only take me 6 months to do?

I might. I like being debt free.

I'm only attending community college, but I plan to transfer to a university in a couple of years. I don't even want to think about the student loans I will have to take out and pay back.

Is the interest on your vehicle high? If so, I think it would be a good idea to pay it off, otherwise, keep making payments, and save money for an emergency. I read that you are supposed to have 6 months worth of funds in the event that you lose your job, and have to remain unemployed. I calculated 6 months of expenses for me, and the amount was something like $5,000. Currently, I have like 2 months worth of savings, it makes me want to work harder at saving money!

Edited by electric_feel

Share this post


Link to post
Share on other sites
It's ok everyone, living off your parents is the new dream in life

Yes, because my goal in LIFE was to still live at home when I was 23.

Pssshhhh. :rolleyes:

I'm only attending community college, but I plan to transfer to a university in a couple of years. I don't even want to think about the student loans I will have to take out and pay back.

Is the interest on your vehicle high? If so, I think it would be a good idea to pay it off, otherwise, keep making payments, and save money for an emergency. I read that you are supposed to have 6 months worth of funds in the event that you lose your job, and have to remain unemployed. I calculated 6 months of expenses for me, and the amount was something like $5,000. Currently, I have like 2 months worth of savings, it makes me want to work harder at saving money!

Nah, I have good credit so the interest is pretty decent. (I think around 6%?) And I do have 6 months worth of funds...a little over $3,000 in my case. (Since all I have to worry about paying are my various loans...and since I've paid off so much of my student loans, my minimum monthly payment is actually way down...so I probably have almost 8 months saved up)

I'd just love to not have to worry about another loan until I buy a house. And if 6 more months of aggressive payment does that, why not?

Share this post


Link to post
Share on other sites

25 and still at home, it totally sucks because I feel like I should be acting like a proper adult at this stage but I dont have the financial ability to move out, my job is only temporary, few weeks here, few weeks there and few weeks nothing. Kinda hard to pay rent on that. :(

Plus Im hoping to go back to college next September so desperatly saving every penny I can for that from any work I get. Someday I'll be big and live somewhere else. Someday soon I hope! Tis not that my folks are bad, theyre great but Im 25 I want my own life ya know?!?!

Share this post


Link to post
Share on other sites
Nah, I have good credit so the interest is pretty decent. (I think around 6%?) And I do have 6 months worth of funds...a little over $3,000 in my case. (Since all I have to worry about paying are my various loans...and since I've paid off so much of my student loans, my minimum monthly payment is actually way down...so I probably have almost 8 months saved up)

I'd just love to not have to worry about another loan until I buy a house. And if 6 more months of aggressive payment does that, why not?

Wow, that's great! It sounds like you are somewhat financially stable. Besides, you are only 23, and you are done with school, I think you are doing the smart thing by living at home and paying off some debts.

Edited by electric_feel

Share this post


Link to post
Share on other sites
Nah, I have good credit so the interest is pretty decent. (I think around 6%?) And I do have 6 months worth of funds...a little over $3,000 in my case. (Since all I have to worry about paying are my various loans...and since I've paid off so much of my student loans, my minimum monthly payment is actually way down...so I probably have almost 8 months saved up)

I'd just love to not have to worry about another loan until I buy a house. And if 6 more months of aggressive payment does that, why not?

Wow, that's great! It sounds like you are somewhat financially stable. Besides, you are only 23, and you are done with school, I think you are doing the smart thing by living at home and paying off some debts.

Yeah, it was a good decision. Really cuts in on the social life, though.

My parents live in the middle of nowhere, so I can't just go out on the spur of the moment. I have to figure in travel time, look up traffic patterns...it's a pain. Also, I work super far away from where I live, so compound the fact that I live super far from all my friends...doesn't exactly make driving anywhere to see anyone appealing. And I can't just have a bunch of friends over whenever I want.

But, my parents are (mostly) cool. We (usually) get along. If it was just my mom and me, it'd be great.

Share this post


Link to post
Share on other sites
25 and still at home, it totally sucks because I feel like I should be acting like a proper adult at this stage but I dont have the financial ability to move out, my job is only temporary, few weeks here, few weeks there and few weeks nothing. Kinda hard to pay rent on that. :(

Plus Im hoping to go back to college next September so desperatly saving every penny I can for that from any work I get. Someday I'll be big and live somewhere else. Someday soon I hope! Tis not that my folks are bad, theyre great but Im 25 I want my own life ya know?!?!

I feel that as long as you have a goal and you are working towards it, then living with your parents is really not that bad. I do get frustrated at times much like you do, but I look at the lives of some of my peers, and see that a lot of them are basically living from paycheck to paycheck because they cannot afford to save. Others have kids, and you can see the stress on their faces, because they cannot afford them. Make the best out of your situation, and keep saving! Good job on going back to school.

Share this post


Link to post
Share on other sites

Yea, Im saving away as much as I can, have a good bit now, but it'll disappear rapidly if I go back to college!! I dont think any of us should feel bad, we're all working towards something or have solid reasons for being where we are. headtrip_honey I understand what your saying I like being debt free aswell, I think if paying stuff off is an option Id go for it. I dont like debt at all. I've got none right now, never have actually (yaay for free tution in Ireland!!)

We'll get there in the end the road is just longer and much more windy than before :)

Share this post


Link to post
Share on other sites

hahaha, that's how almost EVERYONE lives on long island. it's incredibly difficult to get a place around here without a combined income, and even then you're likely starting out with a shithole. there are a bunch of people who get married and have kids and STILL live in their parent's house!

Edited by shipinabottle

Share this post


Link to post
Share on other sites

Yeah, I believe the economy has really hit everyone hard. I lost my job two years ago and decided to go back to school for my masters. I've lived on my own for about 4 years, and now that I am 30, I had to make the really tough choice to move back in with my parents since I haven't been able to find a job. If you think having to live with your parents is hard when you're an adult, it's even harder when you are used to being independent.

Share this post


Link to post
Share on other sites
hahaha, that's how almost EVERYONE lives on long island. it's incredibly difficult to get a place around here without a combined income, and even then you're likely starting out with a shithole. there are a bunch of people who get married and have kids and STILL live in their parent's house!

I hear ya! I live in LA, cost of living is through the roof. Realistically, if I were to move out, with my salary and expenses, I'll be lucky to afford a small studio. I have a boyfriend, but all of my sisters moved out of the house with their boyfriends and never lived alone on their own. I don't want to do that. If I move out it will be on my own.

Share this post


Link to post
Share on other sites

Nope.. 26, own my home, student loans paid off, car paid off. Livin' the dream. :cool2:

Share this post


Link to post
Share on other sites

I'm 24 and I moved back in with my parents in April this year. I broke up with my ex so that's the obvious place to go huh. Its weird being back home, since I moved out when I was 17. But my parents are amazingly amazing and they are helping me get back on my feet.

Just need to sell the unit I own with my ex when I get back from this trip and hopefully I'll be moving to Sydney in the new year. I'm just thankful that I have wonderful, supportive parents to rely on when times get tough :wub: I know there are some people who aren't as fortunate.

Share this post


Link to post
Share on other sites

i think all you people should be proud of your selfs.ya'll our still young,going to school,working part time there's nothing wrong with living at home.you have anuff to worrie about just with school & all the loans you will have to pay back.besides if your parents our cool with it thats all that matters.

GOOD LUCK TO YOU ALL......

Edited by littlewinded

Share this post


Link to post
Share on other sites

im at my university halls at the moment, but i know i don't want to go back to living with my mum, so hopefully i can sort something out, im not entirely sure if i want stay in the city i live either really, ill have some kind of plan in place by then i hope!.

Share this post


Link to post
Share on other sites

I am going to UC full time, have about $25k or so saved up, pay for my own tuition and insurance etc., and live at home.

I am in engineering so i do Co-Op one quarter, then school one quarter so i make all i need for tuition and then a good bit on top of that. I definitely could move out but my parents are pretty relaxed and don't care when I come and go so i don't plan on leaving till i graduate and get a real job.

I definitely am looking forward to moving out but to me it isn't worth it right now, rather keep saving up so i have money in the bank instead of debt.

Share this post


Link to post
Share on other sites

My parents kicked me out at 17. I wish I stayed though for financial reasons. I'd be driving in a Ferrari bagging ladies left and right. No girl could avoid riding in the passenger seat next to this sexy playa. :dance:

Share this post


Link to post
Share on other sites
I am going to UC full time, have about $25k or so saved up, pay for my own tuition and insurance etc., and live at home.

I am in engineering so i do Co-Op one quarter, then school one quarter so i make all i need for tuition and then a good bit on top of that. I definitely could move out but my parents are pretty relaxed and don't care when I come and go so i don't plan on leaving till i graduate and get a real job.

I definitely am looking forward to moving out but to me it isn't worth it right now, rather keep saving up so i have money in the bank instead of debt.

Rich, your accomplishments are really commendable. You pay for your own tuition and were able to save $25k, that is a huge feat.

I agree 100% with your last paragraph, I don't feel that it's worth it to move out at this point. My parents only help me by not making me pay rent, everything else, I have to pay for. My parents aren't wealthy, so they were never able to contribute much to my education or expenses. I don't take anything for granted, that's for sure.

Share this post


Link to post
Share on other sites

I have worked hard thus far and I'm a junior in undergrad. I don't have debt really and I worked as an intern over the summer last summer and was lucky enough to score a $10 an hour 37 hour a week job, so my rent is about $379 a month (I live with 3 other girls) and I work part time on campus while taking way more than a full time load.

My tuition is paid for because the state I live in has a program called PROMISE which pays for in-state tuition when you get a certain ACT/SAT score and a high school GPA of a particular number. And I get a lot of scholarships, I actually get a refund every semester of about $700 which goes towards rent.

I hope to go to graduate school at an Ivy Leaguer, or the University of Edinburgh, so I hope to avoid debt with scholarships once again. We shall see! I am 20 and haven't lived with my parents since high school ended.

Share this post


Link to post
Share on other sites
I am going to UC full time, have about $25k or so saved up, pay for my own tuition and insurance etc., and live at home.

I am in engineering so i do Co-Op one quarter, then school one quarter so i make all i need for tuition and then a good bit on top of that. I definitely could move out but my parents are pretty relaxed and don't care when I come and go so i don't plan on leaving till i graduate and get a real job.

I definitely am looking forward to moving out but to me it isn't worth it right now, rather keep saving up so i have money in the bank instead of debt.

nice! im like 20 min from uc!

Share this post


Link to post
Share on other sites

For those of you not living at home with mom & dad, i'm happy for you. I truly am. However, I would really like to hear more from those who are living with mom & dad, again, it would help me feel better about my situation, because I can relate.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Personalized Advice Quiz - All of Acne.org in just a few minutes

×