How much do you think living at home as an adult costs your parents?



How much do you think living at home as an adult costs your parents?

Living at home with your parents saves you money and helps you save for your own home or rental deposit faster.

But it is not cheap for your parents. There are now nearly more than a million young adults who live with their parents than did 20 years ago.

Civitas think tank figures show that there are 3.4 million 20-34-year-olds living with their parents.

Fidelity International figures show that an adult child living in your household adds an average of £1,780 in expenses every year to that household.

Financially supporting your children has not got a definite end date and many parents have not got an infinite sum of money to draw on.

Half of the parents said despite the extra costs they loved having their children at home and would like to stay forever, and they were lucky to be in a position to be able to support their children.

But it was not positive for everyone with one in eight saying it was putting pressure on their finances, with one in ten saying it had strained their relationship with a partner. 12% said if they had the option they would like their adult children to move out.

Money supermarket worked out that each-extra person in a household should be paying a bare minimum of £144.71 a month. But if you are adding extra people to car insurance, spending more on petrol or a new parking permit and upgrading your TV or internet package. This could cost as much as £320 a month.


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