Should I Move Out Of My Parents House Or Save Money Reddit

Do I move out of my Parent's house?

Hi! I'm 24 years old and just finished paying off my student loans and have about $5500 in the bank. I'm a teacher so i don't collect salary over the summer. I live at home with my parents. I'm wondering if I should live at home for a while longer (6 months? a year?) to save up for a down payment on a house or if I should rent an apartment for somewhere around $700 rent a month.

thank you!

level 1

Judging by how your only response to people giving you advice is, thank you for the advice, i don't feel you are ready to live on your own or ready to mold young minds as a teacher. I hope I'm wrong and you realize what dave would do and continue to grow so that you become a better teacher.

level 2

Lol ok. Just didn't feel like typing big responses. Thanks for the advice! 😉

level 1

· 2y BS4-6

If I were in your shoes, I would move out. But I have a fierce independent streak and wouldn't do well living at home. If you get along well with your folks and your career is progressing, then sure stay a while. Just make sure you have a plan in mind for when and how you will leave.

Also, you didn't ask this, but living at home can put a damper on your dating life, if that's important to you at all. More so for guys than girls. Just something to consider.

level 2

Thank you for the advice!

level 1

I disagree with Dave on this, if you have a clear financial goal and your relationship with your parents is good, then by all means stay for a year. Just don't become aimless while there.

level 2

Thank you for the advice!

level 2

Thank you for the advice!

level 1

I wish I would've moved home after college to save money! Stay there as long as you're welcome and save as much as you can

level 1

I'm 24 and moved to my dads house while in BS2 to rent from him at $700 a month instead of my apartment that was $1720. While I miss being alone, I'm determined to move to a house after this. Dave would say move out, I say if you'd like to wait until you have 6 months emergency fund saved, then do that. But yeah I'd move out, it's better believe me.

level 2

Thank you for the advice!

level 1

Are you planning to live where you currently are? I would probably stay for 6 months to a year and build up more if you're comfortable with that.

level 2

Thank you for the advice!

level 1

24 years old? Get the f out. I get responsibility sucks but people need to grow up and stop telling you what you want to hear. The best thing would be to move out immediately (6 years ago would have been better).

level 1

Dave generally advises moving out, as he thinks being on your own makes you more mature and responsible. That said, it doesn't have to be immediately. Just make a plan with a timeframe and make it happen. If that timeframe is a year from now, that's fine, but it needs to be definitive and not "someday".

level 2

Thank you for the advice!

level 1

It depends, are you welcome at home? It's your parents house. You're always better saving more, but be sure to respect boundaries.

level 2

Thank you for the advice!

level 1

Im going with "Stash The Cash". You will only be there a year or less(?) Better car later? But Im sticking to no more than a year at home. You're in good shape now, go experience some life, debt free of course. Remember the 2 possible scenarios from the animal kingdom, a) Eagles kick their young out of the nest b) Guppies eat their young. Now back to our regularly scheduled program........

level 2

Thank you for the advice!

level 1

· 2y · edited 2y BS7

Keep saving money irrespective, but rent first, then buy a house.

Have a 3-6 month emergency fund, then invest in retirement as much as 15% of your income and take a mortgage of no more than 15 year term and payments 25% of your take home after tax salary.

Good luck!