Millennial Money: 6 ways to move out of your parents’ house

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Millennial Money: 6 ways to move out of your parents’ house
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Nearly a quarter of millennials (22%) are living with their parents, and more than half of those living with them (55%) made the move in 2022, according to a December survey from PropertyManagement.com.

Many said they’re back home due to high rent, money concerns or job losses — and 9 in 10 say they would move out if they made more money.

“When you write your goals down, it forces you to really think through them and be intentional about what you want to do,” Moore says.Use whatever tool you like — an app, spreadsheet, etc. — to design a budget. How much do you have in savings versus debt? What are your monthly expenses? What needs to change to help you achieve your goals?

“For most people, the reason why they’re in this situation in the first place is because they didn’t have that emergency fund,” Moore says. “You need to have that in case something happens financially, that you can still pay your mortgage, you can still pay your rent, you can still live.”If money is an issue, you’ll have to take steps to bump up your numbers, whether that’s asking for a raise, looking for a new position or taking on a side hustle.

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