Why Living With Your Parents Isn't As Bad As You Think

Why millennials live with their parents

Despite the economic recovery after the dashing 90s, the crises have not left the country. The millennial generation has fully experienced the current economic situation: the number of jobs has declined. In addition, it is much easier for specialists with work experience to find a job than for young university graduates who need additional training.

For most of those who do get a job, the prospects are also not very bright. The average salary of a millennial at the start is slightly lower or equal to the average earnings in the region, and this despite the fact that representatives of generation Y are not accustomed to deny themselves an interesting vacation and the purchase of modern gadgets. Staying with parents is also forced by the need to pay off an educational loan after graduation. The combination of low incomes and debt burden is keeping the millennial from leaving the nest.

Another important factor is the sharp decline among the 2000s generation of married or cohabiting couples. Now the percentage of millennials who live with their parents is higher than the percentage of those who tied the knot. Of course, in the absence of a partner, there are practically no options but to stay in comfortable living conditions.

The Pros of Living with Parents for Generation Y

Even if most millennials choose to stay within the walls familiar from childhood, this does not mean that they are unable to become independent.

1. You are not a hostage of financial problems

People who choose to live with their parents and save on housing and other related expenses can achieve financial success if they save money for business, major acquisitions, and additional education. This is not possible for most young people living separately who are held hostage to rent or mortgages.

2. There is a time to choose the best place to build a successful career

Living at home gives you a certain amount of freedom in the labor market. Burdened with high rents, mortgages, household expenses, young people are under pressure and agree to the first job offer they receive. Those who live with their parents can weigh everything and choose a place that is most suitable for professional opportunities and satisfying career ambitions.

3. You have the freedom to work in different cities

Most millennials feel the need for movement, including a relocation. This is especially noticeable recently, when, after graduating from the university, graduates are increasingly leaving their hometowns. But many of them also plan to return after a while. Having a permanent residence gives you a sense of confidence. Such young people are not afraid to leave and fail, because they always have somewhere to return. This feeling helps to decide to try something new, take risks and achieve success.

4. You can invest in experiences

It is no secret that the number of real estate owners among young people aged 18–34 has dropped sharply. This is a generation that values not things, but impressions, emotions, new experiences. Most millennials would rather spend their money on a trip or some emotional event than buying an item. Therefore, it should come as no surprise to anyone if you decide to stay with your parents for your next vacation abroad.

Despite the potential positive effects of living with parents, it is important to note that this does not apply to those who have no desire to become independent. This approach, of course, will only cause discomfort to loved ones. Such young people simply drain the parents' money, which they could use to save or spend in their own interests.

Millennials living with their parents need to understand what this is for. They should have a clear plan for achieving independence and the realization that this type of residence is still temporary.