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Should You Move Home To Save Cash? A Couple Experts Weigh In

pixdeluxe / Getty Images
pixdeluxe / Getty Images

Amid high inflation and a looming recession, a large portion of Gen Z adults (54%) have made the choice to live with their parents, according to a recent study conducted by The Harris Poll and DailyPay. Because housing is typically the largest monthly expense we contend with, living at home can certainly help to make ends meet — but there are obvious drawbacks to this living arrangement, too.

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If you’re considering moving back home to save money, consider this expert advice.

Andrew Latham, Certified Financial Planner and Managing Editor at

“Moving back home can make a lot of sense if you put the money you save toward future goals, such as a down payment on a house, starting a business or paying off debt.

“There are downsides to consider, though. Apart from the loss of independence, you may also miss out on valuable networking opportunities. You may even have to give up your current job depending on your type of employment and where your parents live. However, it is a no-brainer if you can put the money you will save to work, you get on well with your parents, and you don’t have to give up on your current career and social network.”

Dennis Shirshikov, Former Adjunct Professor of Economics and Finance, City University of New York, and Strategist at

“For young people who are struggling to make ends meet or who are trying to save money for a major financial goal, such as paying off debt or saving for a down payment on a home, moving back in with their parents or caretakers can be a good financial decision. By reducing or eliminating expenses such as rent, utilities, and groceries, they can save a significant amount of money each month.

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“However, there are also drawbacks to moving back in with parents or caretakers. One potential drawback is the loss of independence and privacy. If you’re used to living on your own, it can be challenging to adjust to living with other people again, especially if you have different schedules or lifestyles. It’s important to have open and honest communication with your parents or caretakers about expectations and boundaries to avoid any misunderstandings or conflicts.

“Another potential drawback is the potential impact on your career. If you’re moving back in with your parents or caretakers in a different city or state, you may have to give up your job and start looking for a new one in a different location. This can be challenging, especially if you have limited work experience or if you’re in a field with limited job opportunities in your new location.

“Overall, whether or not it’s worth it to move back in with your parents or caretakers to save money will depend on your specific financial situation and goals, as well as your personal preferences and values. It may be a good financial decision in some cases, but it’s important to carefully consider the potential pros and cons before making a decision.”

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This article originally appeared on Should You Move Home To Save Cash? A Couple Experts Weigh In