Living With Your Parents after College

I have read quite a few articles and forum discussions about living with your parents after college.  Usually, there are a wide range of comments on the subject.  Some believe that living with your parents after college is a financially responsible decision.  Others believe that living with your parents after college shows a lack of responsibility.  I admit that I am part of the former and decided to move back in with my parents after college.

Although I live with my parents, I don’t expect anything from them other than a room to sleep in.  I buy my own food, cook my own food, clean my own clothes, and take care of the yard work.  It works out really well and allows me to save a substantial amount of my income.  In fact, I paid off all of my student loans within two year of graduating.  After finishing off my student loans, I started chipping away at my auto loan and paid that off six months early.  Now that I have all of my debt paid off, I am quickly saving up money for a down payment on a house.

Tips for living with your parents after college:

Set Goals – If you do decide to live with your parents after college, be sure you let them know your goals.  When I moved back in with my parents, I let them know my two goals were to pay off all of my debt and save a 20% down payment.

Set a Budget – If you want to achieve your goals, you need to come up with a budget.  Look at all of your monthly expenses and income and then formulate a plan from there.  It would be helpful to share this with your parents to let them know you are serious about achieving your goals.

Set a Time frame – Now that you set your goals and budget, you should let your parents know the time frame for achieving those goals and moving out.  They will appreciate this and know you are acting responsibly.  After letting my parents know my goals, I let them know it would take around three years to achieve them.

You’re Not in High School Anymore – If your parents are willing to let you live with them after college, don’t mooch off them for everything.  You should do your own grocery shopping, clean your own clothes, and pitch in for utilities.  It can’t hurt to help around the house either.

Edwin C

Edwin is a marketer, social media influencer and head writer here at Money In The 20's. He manages a large network of high quality finance blogs and social media accounts. You can connect with him via email here.

4 thoughts on “Living With Your Parents after College

  • March 30, 2011 at 6:39 pm

    My goal is to live with them during college so I don’t have to after college, but I definitely agree with your list. Take care of your parents, people! They love you, but not your problems, messes and laundry! 😉

  • April 1, 2011 at 12:04 am

    Hey JT,

    That’s a good idea too. Room & board is not cheap so that is a very good move by you!

  • April 11, 2011 at 1:59 pm

    Some very good points there. I think your approach to living with parents is a very good one (although I’m not sure I could do the same!)

  • May 1, 2011 at 3:35 pm

    Congrats on getting all your debt cleared! I don’t know how student loans work in the US. Here in the UK, the interest rate on student loans is ridiculously low so it makes sense for me to hold onto that debt and have my money working for me elsewhere.

    I lived with my parents for 18 months after graduation and I’m so happy I did that. I was able to stockpile so much cash. That’s how I was able to afford the down payment on my house. Because life was so cheap, I was able to make a point of paying my parents more money than they’d asked for so we all won from that situation. Anyway, you’re clearly on the right track. Keep up the good work!


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