30 and Living at Home | brokeGIRLrich
This one goes out to all the others in their third decade still eating Captain Crunch with Mom at the breakfast table.
I know I’ve mentioned this many times on this blog, but I’m am pretty much the luckiest around when it comes to my parents. They are endlessly supportive. When I was growing up, my dad was actually also extremely strict, so I think they managed to instill a pretty good work ethic in me and I’m not much of a moocher.
BUT I do still live with them on and off.
I’d say my lifestyle is kind of unique – and to many of you it is – but I also have quite a few readers in the arts who live the exact same sort of nomadic, contract to contract lifestyle.
When I worked for the cruise line, I was always surprised by people who had their own apartments and homes. It was one thing if they had a family back there waiting for them, but most of the time, it was just sitting empty 9-11 months of the year.
The same with the circus and now that I’m back to touring, I feel the same way. The prospect of trying to find subletters for my apartment every time I get a gig seems miserable.
Additionally, with my crazy schedule, I know that even though 3 months is a long time, if I had my own place, I’d probably spend about half of that time at my parents’ house anyway. Because I like being around them.
Also high on the list of reasons I like living at home, last year my rent was $1,250 and that was super reasonable for a one bedroom apartment in New York City. This year my rent is $0. By getting rid of rent, the pay cut I took to take my current job actually comes out to me making about the same amount of money a year. And now I like my job.
I know this option isn’t for everyone, honestly, I can’t really do it full time, but I’m surprised at the number of entertainment nomads who don’t take advantage of such offers, especially when they have supportive and easy going parents who don’t mind.
One of my best friend’s from high school actually moved back home after college and only just moved into her own apartment this year. It helped her weather the rough time finding a job right out of college, a brief period of unemployment, and allowed her to travel to her hearts content without worrying much about her finances.
Seems to me, one of the best ways to save on your budget is to stay at home as long as your parents allow you to and as long as you can stand being there.
It sounds like you have awesome parents, Mel. I’m actually visiting my folks right now and I wouldn’t mind staying here in between stints on the road. I think what you’re doing is smart.
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I’ve spent a month or two with my parents occasionally — the last was the spring/summer I was finishing my dissertation. I wouldn’t want to do it indefinitely; I love my parents a LOT, but there tends to be more friction when I’m there for a very long period of time. It’s also not a house that’s set up well for me to have the amount of privacy I like, which makes it harder to contemplate being there long term. That said, I’m hugely grateful that the option even exists; there’s a layer of fallback there which has made my precarious financial life more relaxed than it otherwise might have been.
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I like how you wrote “there’s a layer of fallback there which as made my precarious financial life more relaxed that it otherwise might have been.” I agree 100%.
And I know it’s heavily on my mind, because there is definite friction that increases the longer I stay. 3 months will be the longest I’ve been home since… college? I’m not even really sure.
I’m not in my 30’s but I will probably still be living with my parents when I am 30. Every now and then I scream out “I need to get out of here!!!” But I know I would never be able to make the progress I am making with my debt. My Goal is to out on my by 30 but if it doesn’t happen, I don’t think my parents would care.
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I think it’s terrific you have parents who let you live with them while you’re paying down debt! It’s such a huge money saver.
I went home for two weeks a couple years ago and stayed with my dad and stepmom. It was actually pretty relaxing, but all in all I could never live with my parents again unless times were pretty desperate. Mainly because if I did I’d be moving back to Michigan and I don’t ever want to live there. I moved back in with my mom and stepdad I think for about a year when I graduated from college, but it was very rough as my stepdad is…not a great person. Haven’t looked back! I think it’s awesome you enjoy spending time with your parents so much, and think it’s a great option for someone with your type of work and being on the road!
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I grew up in Indiana and hurried to Florida as soon as I graduated college. Within a year, I had bought a townhouse in an overheated hosting market because I felt like I had to do it then or I’d never be able to afford to buy. A few years later, the housing market debacle happened, and I lost my job. With no prospects in my area, I moved back to Indiana to live with mom and dad, so I could find a job that would at least cover my mortgage. They didn’t raise me to walk away from an obligation, so foreclosure or a short sale was never an option. 27 months passed pretty painlessly, and it ended on a family “vacation” to Florida to come check on my house. I visited with some of my former coworkers, and landed a job back here again. Mom and dad still come here about 2 weeks a year, and I try to stay up there about 2 weeks a year, too!
Yeah, it’s definitely an incredible blessing to have the kind of parents who are easy going about taking you in sometimes.
If I were in your shoes, with lengthy travelling engagements, I definitely would NOT be paying for an empty apartment! I would for sure do what you´re doing, too. I´m lucky in that my current rent is pretty cheap, and my mom lives nearby, so we see her all the time for eating and general hanging out. I think if we had to, my husband and I could easily live with her.
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I was 21 when I moved out. My parents retired and moved away, so I didn’t have much of a choice. I did move back in with them after college after failure to land a full time gig and stayed for 1 year. Given your work situation I total agree that owning or renting a place makes no sense. I would offer then same for my children when they are old enough, but at some point I’d want them to fully on their own.
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I moved back home for a year after I was married. Mr Tre was working overseas & I couldn’t join him. Staying with mom & dad was great.
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I love spending time with my parents too, so I moved back to my hometown and literally miss them if I don’t see them for a week!
But I had a hard time keep ving with them after being on my own in college!
Rebecca @ Stapler Confession s recently posted…7 Tips for Getting the Best Price on Shades
I never moved back home after college because neither of my parents were easy to live with or encouraged me to do it, but I have a number of clients who have the parental homestead as an option and I HIGHLY encourage it. You not only save money on rent, but you can also save on food and other household expenses like utilities. I know it’s not the answer everyone wants to hear, but from a financial perspective, it’s difficult to find a better alternative.
Shannon @ Financially Blonde recently posted…Music Mondays – Dear Future Husband
My son is 29 and still lives at home. He’s an only child and we get along great. As long as we have plenty of room and he shares the expenses, why should he live on his own and spend more money than he has to? I know some people don’t get along with their parents, but if you do it’s a great way to save a stash of cash!
kay ~ lifestylevoices.com recently posted…A Young Frugivore’s Fancy
Great parents can certainly make life a bit easier – especially when young and still moving around (or traveling, as you are doing). If you are willing to make a few compromises here and there, you can end up saving a lot! And a more enjoyable job is almost always worth a cut in pay. Life is too short to be miserable.
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I completely agree.
I moved out of my parent’s house when I went to college but I moved back in with them a few years after graduating. I thought it was the end of the world, but now I love living with my mom!
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Yeah, it’s been kind of nice being here so far.
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