It sounds strange, but a bunch of millennials are moving back in with their parents, although it’s not just because they’re looking for cheaper rent and built-in cooking services. No, there are a ton of reasons for this move. Today, we’re looking at 25 of them.
Surprise Bills
No matter your age, we all hate getting those surprise bills that put a huge dent in our wallets. It doesn’t matter if it’s medical bills or car repairs because when those bad boys hit, sometimes the only way out is a U-turn back to the parents. For millennials, the place that they left suddenly looks a lot cozier when it means dodging debt.
Job? What Job?
Losing a job is a bummer and a half. When the paychecks stop coming, living on your own feels like a luxury that you can’t afford, so some millennials are moving back to their rent-free fallback. It’s even worse when you think about how unpredictable the job markets are now, too, which makes their parents’ basements a financial lifeline.
Scary Economy
The prices on pretty much everything are through the roof, even if you stick to just buying store-branded stuff. Staying with parents can feel like a safe bet when you’re not sure where the economy’s headed or even if you’ll survive it. For many millennials, it’s a way for them to weather the rising costs and uncertainty of the economy.
Finding Financial Security
It’s no secret that, for many millennials, financial security seems completely out of reach and they’ve got very little chance of saving money. The dream of building a financial safety net feels a lot easier when you’re not shelling out for rent and utilities every month. So, it’s no surprise many of them are choosing to move back home.
No More Milestones
All those milestones you expect from adults, like buying a house or tying the knot, seem like they’re playing hard to get for millennials, and it’s making living with parents much more attractive. After all, it’s not exactly easy to see your friends hitting those milestones on social media. It’s a lot easier to stay patient when you’re under your parents’ roof.
Bad Breakups
Nothing will send you back to your childhood home faster than a bad breakup. Suddenly, those walls filled with old posters feel more comforting than limiting. For many millennials, they’re a way to remember that some endings are simply new beginnings, even if it’s happening in your old twin bed.
Kids Ain’t Cheap
Sure, having kids is awesome, but the costs of raising them? Not so much. Moving back with parents can give you a break on the wallet and some extra hands for childcare at no cost at all. Plus, who doesn’t want their kids to spend some time spending with their grandparents? You can’t put a price on that.
Parental Duty Calls
Speaking of parents, nobody’s getting any younger, and that includes millennials’ parents. Sometimes, the younger generation has to move back because they need to be for their parents. After all, their parents have always been there for them, so it’s about time they return the favor.
Educational Opportunities
Everyone knows that higher education is pretty expensive these days, with the average undergraduate degree at around $26,290, and the thought of student loans is pretty terrifying. Packing up and heading home makes a lot of sense for those trying to get a degree with a financial noose around their necks. Plus, being able to study in a familiar and supportive place makes those all-nighters a little less stressful.
Health Hiccups
When health issues pop up, there’s no remedy better than the TLC you get at home because having your family around for support beats doing it alone any day. We’re not just talking about getting soup when you’re sick, although that’s always good. No, moving home can also mean you’ll have someone to go with you to doctor’s appointments or collect medicine when you’re busy.
The Pandemic’s Legacy
COVID-19 shook things up big time across the world, causing some people to move back to their parents during lockdowns and stay there. For some millennials, it taught them that being close to their loved ones is something you just can’t put a price on. It completely changed their priorities toward family time and home comforts.
No More Taboos
Living with parents isn’t the huge social taboo that it used to be, with many people seeing it as a smart move instead of a failure. Rediscovering your family relationships as an adult gives some millennials a better understanding of their parents as actual people. They’re not just caregivers anymore.
Cooking? What’s That?
Not all of us can be master chefs, and according to one poll, only 47% of millennials think they’re skilled cooks. So, learning to cook from people who’ve done it for years can be a major benefit, as you’ll save money on takeout and learn some new recipes. Plus, there’s the whole bonding thing as you’re cooking, too.
Mom’s Cooking
Speaking of cooking, getting home-cooked meals from your parents is something you just can’t put a price on. It’s a time for you to relive your family traditions at the dinner table and catch up on the things you’ve missed. Forget about just the food because cooking sessions are a time to share stories.
Playing Roommate Roulette
Bad roommates can ruin even the best living situations, and at least with family, you know the deal upfront. There’s a real comfort in knowing just how predictable it is to live at home because you already know about your parents’ weirdest habits. It’s also a lot more fun to play family game nights than to spend your evening splitting bills.
Chasing Dreams Without the Rent
For anyone who’s dreaming of becoming an entrepreneur, ditching or lowering rent payments means more cash to chase their dreams. Living with parents means they can take these business risks while also having a safety net in case things get too bad. They know they’ll always have a place to sleep at night, no matter what.
Traveling Troubles
If you don’t use that extra cash for business, then you could always use it for traveling. According to Forbes, the average cost of a round-trip domestic economy flight is about $427.20, so cutting back on rent could give you a pretty nice vacation. Your parents’ home becomes the base for you to explore the world, and you’ll rest happy knowing it’ll end each time with your family.
Laundry Day
Who wouldn’t want to skip out on laundry chores? Sure, it might sound lazy for millennials to move back home just so they don’t have to do laundry, but it’s actually a lot more than that. They realize that these small acts of service are a sign of their family’s love and care for them. Coming back to a home where someone else takes care of them gives millennials more time to work on themselves.
Family Ties
Spending quality time with our families can help us in more ways than you might think, and the science backs it up. No matter the challenge, our family is always there to help us out, so it’s no surprise so many millennials are moving back home. After all, why wouldn’t you want to feel that support again?
Life Skills 101
Of course, moving back home doesn’t have to mean the learning stops, as you can get a hands-on approach to life skills that beats any textbook. Moving back home is like a crash course on how to manage your finances and fix a leaky faucet. The best part of all? It’s completely free.
Creating Careers
Moving back in with your parents can also open a whole new career path for millennials because they’re not worried about financial pressures anymore. Suddenly, they’re not just working to cover the next month’s rent and they’ve got the headspace to dream big. It’s the perfect time to turn those dreams into reality.
Side Hustle Situations
Similarly, the rise of the gig economy means many millennials are juggling side hustles alongside their main jobs. Living at home means they’ll spend less time worrying about bills and more time on growing those side gigs into something bigger. Who knows, they could even turn these passion projects into a full career.
Mental Health Matters
Mental health is no joke, and studies show millennials have higher rates of depression than other generations, so moving home can seriously take care of their mental well-being. Had a bad day? There’s someone to talk to. Feeling overwhelmed? You’re not alone. For millennials, living with parents means having a safe space to be open about their struggles and work on getting better.
Environmental Awareness
Living alone can leave a pretty big carbon footprint, and for those trying to live more sustainably, moving back home can be a step in the right direction. Sharing a living space means sharing resources, which reduces the impact on the planet. Every little helps when it comes to protecting our planet.
Not Forever
Any millennial moving home isn’t doing it forever. Instead, it’s just a time for them to prepare and grow before the next act of their life begins, and honestly, we can’t blame them. Nothing beats the support from people who know and love you best. With each day that passes, they’re getting ready for their next great adventure.
