Here's How Much It Costs Parents to Have Adult Kids Living at Home
Back in the day, living at home as a young adult was somewhat shameful, and notably uncool. These days, however, it's not only stigma-free, but also common practice. Given the number of college students who graduate heavily in debt, it often makes sense for young adults to move back home, save their wages from their first few years on the job, build emergency funds, and get out of debt before tackling the massive expense that is housing.
But while parents should, when the situation allows, welcome their grown kids back home with open arms, they shouldn't do so to the detriment of their own finances. But in a survey by home services company Porch, it costs parents an average of $459 a month to house adult children. That's a lot of money for parents to be giving up, especially those who need that cash to boost their retirement savings.
IMAGE SOURCE: GETTY IMAGES.
Source Fool.com
