Living at home: the good life that you will have to leave behind one day?
Are you starting your studies or have you just landed your first job? One question arises: are you going to stay in the warm surroundings of your family home, or are you going to fly the nest?
Of course, the first solution does present some advantages. But one day, you will have to leave. It is all about choosing the right time.
Rent or leisure?
By living with your parents, you avoid spending most of your money on accommodation. A young person without much cash can end up seeing 65% of their monthly budget disappear on rent. This also means that some expenses, like shopping or going out, become luxuries.
That is why 1 in 2 students living at home make this decision with 1 thing in mind: saving money for the future! A future that involves buying or renting accommodation. It is all about the timing...
Living in the cheapest 3-star hotel on the market
Staying at 'Hotel Mum and Dad' is certainly practical: you get housed, fed and your laundry done for free. You can fully devote yourself to your studies or your career.
Living in shared accommodation is a little less laid back: you will be on your own when it comes to cooking, doing your laundry or when you lose your get up and go. However, it is also a rewarding experience. And you will end up with friends for life!
Earning for the first time? Think about the consequences
Have you finished your studies and landed your first job? Sometimes your earnings can deprive your parents of certain income. Family allowances, for example. So it would make sense for you to contribute to the family budget, too – the bonus being that you learn how to manage your money.
Staying in the comfort of your family home is only one of the options available. Is it the right time to move into shared accommodation? To make an informed choice, see our checklist.