Living with your parents while holding down a "serious" job (bankrupt, profit)

[city_data91]

I heard some of the richest people (or people that live the richest lifestyles) are young people that live with their parents, work decent paying jobs, and have a lot of disposable income.

[skeet09]

Originally Posted by trochlearIV

I'm not talking about the one's that just graduated college.
The OP said it was a person with a stable job making good money and others mentioned being a 30 year old.
I understand that straight out of college most people can't even find a job and that is fine. Understand that I did say in my earlier post that there was nothing wrong with staying with your parents if you are struggling but once you are on your feet I believe you should move out.

BTW skeet09 do you listen to the Dave Ramsey show?

I do listen to Dave Ramsey at time but I do not follow all his advice...he does have some good morsels of tips that I do like. The OP said Jayson had just recently graduated college so I'm thinking 23 years old or so.

Originally Posted by Ohiogirl81

How about you eat on the coffee table you bought at a yard sale and sit in your bean bag chair from college until you can save enough money to buy a dining room table and sofa on your own? Why should your parents foot the bill for your entitled lifestyle?

There was nothing entitled about my lifestyle when I lived at home and I didn't even have a coffee table or bean bag chair from college. It is also a cultural difference in my household (we are Hispanic and living at home until we marry is the norm). I did chores, bought my own food, pretty much only slept and showered there because I worked almost full time and attended school full time (I was a commuter student). I saved a lot of money...money that I now have in an emergency fund. When my peers are worried about whether they will get laid off, I have the piece of mind that I have a good amount of savings in the bank if I get a pink slip plus I was able to put have money for a down payment for a home. My parents were never able to help me pay for college...helping me after college by living rent free at home was their way of appreciation towards me. I have no student loans, my car is paid off and while there are others who do not use the opportunity wisely while living at home (spending their money or unnecessary items), I appreciate that gift from my parents very much.

[trochlearIV]

I asked about Dave Ramsey because he always talks about having an emergency fund

[skeet09]

Originally Posted by trochlearIV

I asked about Dave Ramsey because he always talks about having an emergency fund

Emergency fund = sleeping better at night.

[highlife2]

Originally Posted by Ohiogirl81

I agree. But if people insist on a certain lifestyle that costs a certain amount of money, and people refuse to cut expenses, then a second job is better than running to Mommy.


But it's OK for your parents to pay a mortgage so you have a place to freeload as an adult?

I've got news for you, honey: Life is indentured servitude. You will always need a job to earn money to buy yourself food and shelter. If you do own your house outright, you still must serve the taxing jurisdictions. There's no escaping it.


You got that right. When I got out of college, I had a 10-year-old car, lived in a studio apartment, budgeted my money carefully, and still was able to have a few beers on Saturday nights and save money for a new car.


How about you eat on the coffee table you bought at a yard sale and sit in your bean bag chair from college until you can save enough money to buy a dining room table and sofa on your own? Why should your parents foot the bill for your entitled lifestyle?

Taxes and food and gas etc can be paid for out of random income, thoes expenses are nominal compared to rent or mortgage. Its all about the extent of the expense and rent/mortgage takes the cake. If I did not have a mortgage I could put away like 5 years of living expenses in a short time that DOES prevent me from becoming an indentured servant. That is why I asked if you could do math.

My only bills are a nominal student loan payment and vehical insurance (fiances pays some nominal utilities) .... then there is the HUGE mortgage payment which dwarfs all the other bills, you really have to have some more math if you cant see that fact, not having a mortgage frees you from alot of problems, it is substantially more than just another bill.

If I did not have a mortgage I would have no worry of a lay off becuase taxes are nothing compared to the monthly mortgage, sure I would have to eventually get a new job but I would ahve forever and a day to do it, instead of panicing and having to call a real estate agent the next day because I can barely cover 4 months of mortage without blowing my savings that I will have to buy food and gas on while living at my parents lol.

If you still dont get it then you need to take math 101 and learn about numbers that are substantially larger than other numbers before I can talk to you anymore.

[highlife2]

Originally Posted by skeet09

Emergency fund = sleeping better at night.

I have 0 down on my place so I sleep ok knowing that I can just let this place go into forclosure and move in with parents, but they dont do loans like that anymore so I would not be moving out until I could pay for a house outright, it would make me sick to my stomach to loose 20k in down payment because I got laid off.

[Veyron]

Originally Posted by swmrbird

I understand the financial benefits to living with your parents. And if you HAVE to live with your parents for any number of reasons (either for you or for them), you are not alone.

However, I do not understand why you would live at home if you didn't have to. So you can't live the lifestyle you want, welcome to America. Financials aside, it sounds like Jayson just doesn't want to grow up. I certainly hope your coworkers make fun of you.

What happened to the satisfaction of living alone, paying your own bills, making it on your own? Personally, that is much more enjoyable for me than living with my parents in order to live above my means.

[trochlearIV]

Everyone is entitled to their own opinion.
Some think it's not okay to freeload off your parents after you have a stable job and are spending money frivolously and others think it's okay to stay living with your parents indefinitely

There is no need to tell people they have to take math 101 just because they don't see things your way.
I'm sure the OP just wants opinions on the matter and that is what is being presented.

[swmrbird]

Originally Posted by city_data91

The OP lives in Duluth. Either he's talking about someone else or this is hypothetical.

And if the parents are paying all the expenses, why couldn't he save all his paychecks for that long? Unless he wanted something the parents were unwilling to give him.

He COULD save all his paychecks, but it sounds like his whole point of living at home is so that he can use his income as 'fun money' (going out, purchasing non essentials, ect.) - things he couldn't afford if he was living on his own paying his own bills.

The whole overtone of the original post seems more 'I want to have fun and no responsibility' rather than 'I am making responsible decisions for my future'. That's just how I interpret this particular poster's outlook on the situation.

[Ohiogirl81]

Originally Posted by city_data91

People used to get by with a high school diploma. But now college graduates struggle.

News flash ... College graduates have always struggled. Young people just starting out have always struggled. Nothing has changed.

Originally Posted by highlife2

then there is the HUGE mortgage payment which dwarfs all the other bills

If your mortgage is that huge, you bought a house you cannot afford. Why should your parents have to pay for your lack of responsibility?

If I did not have a mortgage I would have no worry of a lay off becuase taxes are nothing compared to the monthly mortgage, sure I would have to eventually get a new job but I would ahve forever and a day to do it, instead of panicing and having to call a real estate agent the next day because I can barely cover 4 months of mortage without blowing my savings

Isn't that what savings is for -- to cover you during emergencies like a layoff? And why are you "panicing"? You haven't been laid off ... yet ...

If you still dont get it then you need to take math 101 and learn about numbers that are substantially larger than other numbers before I can talk to you anymore.

I know all about your numbers. Your expense numbers are larger than your income numbers. Whose fault is that? Surely not your parents'.