I was chatting with one of my best friends this past weekend and she came up with a brilliant idea: She decided that when she has children she is going to encourage them to move back home after college, get their first big-kid job, and SAVE money like crazy.
After crunching some numbers she realized she would have over $70,000 in the bank saved if she hadn’t bought a home (investment), new cars, etc.
I told her that if my parents made that offer there’s no way I would have taken them up on it – I’m too stubborn. Moving out, to me, means “I’m financially independent baby!”
So now I’m curious – would moving back home after college to save all of your money be a good idea? Or would this be detrimental to the already-entitled-Gen-Yers in the fact that they really would have everything handed to them on a plate when the generation before us was required to move out, get a job and fend for themselves? I understand the value of saving money. I also understand the value of making investments such as home purchases. So I can’t quite decide if I agree with my friend or not.
Either way – had my parents made that offer to me I would have gladly declined and still moved out on my own to feel like I’m wearing my big kid pants.