If moving in with your folks feels like the right call, you should set goals for yourself and expectations with your parents. Here are a few tips:
1. Form a financial plan
Look at your monthly expenses to understand how much money you’ll save by moving in with your parents. Then form a plan for what you’ll do with that money. For example:
- Will you make additional payments on your student loan?
- Will you tackle your credit card debt?
- Will you save toward a down payment for a house?
2. Set a goal for moving out
Create a timeline so you know when you should move out again. For instance, you might move out when:
- You get a new job.
- You can afford several months of rent.
- You can buy a house.
- You’ve put a significant dent in your debt.
3. Make a plan with your parents
Sit down with your parents and have an honest discussion about expectations. What expenses will you cover? What chores will you help with? What privacy do you expect?
Splitting the grocery bill and utilities may make it more challenging to hit your financial goals faster, but it can help you feel like you have earned your keep when living under your parents’ roof. And it can go a long way in making your parents feel more comfortable about your extended return home.
Having trouble with the conversation? Here’s a checklist of things to review with your parents before moving in:
- Will I pay rent? If so, how much?
- Will I pay utilities? If so, how much?
- Will I pay for my own groceries?
- What chores can I help with?
- Will there be a curfew?
- What’s the policy for having people over?
- Is there a timeline or cut-off to this new living arrangement?
- Are there other expectations, like having a family dinner once a week?
- What are the communication expectations?
- How much notice do you need if I plan to move out?
4. Maintain your social life
Just because you’ve moved back home doesn’t mean you can’t still socialize the way you used to. For your mental health, go out with friends, get outside, go to the gym, and date if you’re interested.
And remember: Your parents are people, too. They may also want free time. Give them their space to live the way they want as well.
