{"id":11501,"date":"2018-04-25T03:33:56","date_gmt":"2018-04-25T10:33:56","guid":{"rendered":"https:\/\/www.movoto.com\/blog\/?p=11501"},"modified":"2018-04-25T03:33:56","modified_gmt":"2018-04-25T10:33:56","slug":"live-with-parents","status":"publish","type":"post","link":"https:\/\/www.movoto.com\/blog\/live-with-parents\/","title":{"rendered":"How Living with Your Parents Makes You Rich"},"content":{"rendered":"<h3>Embed Infographic<\/h3>\n<p><textarea style=\"width: 587px;height: 100px\">&lt;iframe src=&#8221;http:\/\/s3.amazonaws.com\/movotoblog\/2013\/04\/live-with-parents\/home.html&#8221; height=&#8221;650px&#8221; width=&#8221;600px&#8221; frameBorder=&#8221;0&#8243;&gt;&lt;\/iframe&gt;&lt;\/br&gt;&lt;a href=&#8221;https:\/\/www.movoto.com\/blog\/real-estate-tips\/how-living-with-your-parents-makes-you-rich\/&#8221;&gt;Live With Your Parents, Buy A House&lt;\/a&gt; By Movoto<\/textarea><br \/>\nI have four primary life goals:<\/p>\n<ol>\n<li>Get married<\/li>\n<li>Have kids<\/li>\n<li>Buy a house<\/li>\n<li>Retire<\/li>\n<\/ol>\n<p>And I\u2019m just now realizing I can\u2019t buy a house without <a href=\"https:\/\/www.movoto.com\/blog\/homeownership\/down-payment\/\">saving for a downpayment<\/a>. I wish I\u2019d lived in my parents\u2019 basement the last four years. I\u2019d be <b>$85,000<\/b> richer. That would put me in downpayment territory already, even in crazy expensive <a href=\"https:\/\/www.movoto.com\/real-estate\/homes-for-sale\/san-francisco.html\">San Francisco<\/a>.<br \/>\nInstead, I wasted all my money on rent, food, and TV. Not only that, but I have kept a detailed spreadsheet of everything I have spent over the past 4 years so that I can relive the pain all over again. Using that spreadsheet I created a breakdown of the money I washed away.<br \/>\nI\u2019ll guide you step by step through all the money you can save by living at home for 4 years. You\u2019ll be able to buy a home in no time.<\/p>\n<h2>Rent \u2013 Making My Landlord Rich Since 2009<\/h2>\n<p>I&#8217;d put up with a lot to save <b>$1,000\/mo<\/b> on rent, including the mental anguish of seeing my parents every day. My rent is on the high side because I have had the \u201cprivilege\u201d of living in Los Angeles and San Francisco after graduating college, the second and third most <a href=\"https:\/\/www.movoto.com\/reports\/cost-of-living.html\">expensive cities in the country<\/a>.<br \/>\nThinking of my current situation, I would happily trade hipsters for my parents. God, I hate <a href=\"https:\/\/www.movoto.com\/blog\/top-ten\/least-hipster-cities\/\">hipsters<\/a>.<\/p>\n<h2>Food \u2013 What\u2019s better: Microwave Dinners or Mom\u2019s Home Cooking?<\/h2>\n<p>I\u2019ve averaged about $339\/mo on food and drink, but mostly food. Of that, maybe <b>$250\/mo<\/b> has been on groceries that my parents could have been buying for me instead.<br \/>\nIf I lived at home my mom wouldn\u2019t only buy my food, she\u2019d cook it, which is worth even more money. Not to mention, my mom\u2019s a helluva cook. She made me pancakes every day before school.<br \/>\nNow, I eat frozen Trader Joe\u2019s pizzas three times a week. If I\u2019m feeling spicy, I throw an egg on top.<\/p>\n<h2>TV, Internet, &amp; Phones \u2013 Powering My i<del datetime=\"2013-04-02T01:55:18+00:00\">Poop<\/del>Pad Gets Expensive<\/h2>\n<p>My NFL Sunday Ticket, Plants vs. Zombies, and Android phone habits are expensive. I\u2019m talking <b>$230\/mo<\/b> expensive. I don\u2019t even splurge for Netflix, Hulu Plus, or HBO.<br \/>\nHow much did those things cost when I was living at home? Nothing. I could play Angry Birds on high speed WiFi while watching the Giants win the Super Bowl for free.<br \/>\nI will say that I can at least piggyback off of my parents HBO subscription from outside the house. Life wouldn\u2019t be complete without \u201cGirls\u201d and \u201cGame of Thrones,\u201d em-i-rite? And, for the record, Lena Dunham <a href=\"http:\/\/www.thedailybeast.com\/articles\/2013\/02\/13\/stay-naked-lena-dunham.html\">does not get naked too much<\/a>.<\/p>\n<h2>Living Supplies \u2013 Have You Ever Noticed Girls Use a lot of Toilet Paper?<\/h2>\n<p>I only recently noticed this phenomenon. My fiance\u00e9 has been working from home the past month and she has ploughed through our TP stash.<br \/>\nEven at normal toilet paper run rates, general living supplies (Cleaning the house, toilet paper, paper towels, shampoo, etc\u2026) run upwards of <b>$130\/mo<\/b>.<br \/>\nThe bulk of that expense isn\u2019t in toilet paper; it\u2019s in the cleaning cost. Exec charges $117 to clean a one bedroom apartment. They do a better job of cleaning than my mom (she never remembers to put my LEGOs back in the right position), but let\u2019s call them the same for arguments sake.<\/p>\n<h2>Car &amp; Health Insurance \u2013 For as Cute as that Gecko Is, He Isn\u2019t Cheap<\/h2>\n<p>I spend about <b>$100\/mo<\/b> on health and car insurance.<br \/>\nIf I lived at home, Obama would have my back on health insurance (I can stay on my parent\u2019s plan until the end of the year).<br \/>\nMy parents picked up the car insurance tab in high school, so they\u2019d still pick it up for me now. And they would probably get a better rate on car insurance than I get now.<br \/>\nLet me just put this out there, I might be 26, but I\u2019m a boring old man. I go to sleep at 10 p.m., watch HGTV, don\u2019t drink, and eat pretzels. My high school guidance counselor called me \u201cvanilla\u201d during my college prep meetings.<br \/>\nGeico should be charging me $10\/mo, not $75\/mo.<\/p>\n<h2>Utilities \u2013 That\u2019s Alright, That\u2019s Ok, I\u2019ll <a href=\"http:\/\/www.hark.com\/bring-it-on\/youre-gona-pump-our-gas-someday\">Pump My Own Gas<\/a> One Day\u2026<\/h2>\n<p>Keeping the lights on adds up over time. Electric, gas, and water cost me about <b>$75\/mo<\/b>. And that\u2019s with trying to be energy smart. San Francisco never gets really cold, but it never actually gets warm either, so the heat could be on at all times.<br \/>\nIf I lived at home, I\u2019d stick the thermometer at 70 degrees and let the parents deal with it. Instead, I wake up freezing and rarely put the temperature past 65. So not only am I poorer, but I\u2019m also cold. What\u2019s the upside of being independent again?<\/p>\n<h2>Laundry \u2013 The One Chore I Still Happily Pay Others to Do<\/h2>\n<p>All that time your mom spends lugging around your laundry is worth (only?) <b>$35\/mo<\/b>.<br \/>\nPersonally, I hate doing laundry; more so than doing the dishes (And you can ask my fiance\u00e9 how much I hate doing the dishes). I hate laundry so much I farm it out to the awesome people at <a href=\"http:\/\/wash1sf.com\/\">Wash1SF<\/a>. They have a fantastic service called wash and fold where they wash <b>and fold<\/b> your laundry. Magical.<br \/>\nAt $1.25 per pound, it costs me $35 a month to have someone else do my laundry.<\/p>\n<h2>The Road to Riches Runs Through Mom and Dad<\/h2>\n<p>All told, living at home saves you about <b>$1,800\/mo<\/b>. If you invested that money at 4% instead of spending it, at the end of four years, you\u2019d have over <b>$85,000<\/b>.<br \/>\nIt\u2019s not mooching; it\u2019s investing.<\/p>\n<h2>Economist\u2019s Notebook: Why four years out of college?<\/h2>\n<p>Two reasons:<\/p>\n<ol>\n<li>That\u2019s typically the amount of time between graduating and not losing eligibility for health care through your parents<\/li>\n<li>I just turned 26 and am three months away from hitting the four year mark. And, lucky for me, I have kept a pretty detailed log of how much money I\u2019ve spent over the past four years.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/s3.amazonaws.com\/movotoblog\/2013\/04\/live-with-parents\/images\/live-with-you-parents.png\" class=\"excerpt\" \/>Living in your parents basement for a short time after college can make you rich. Find out how much money you would save.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-11501","post","type-post","status-publish","format-standard","hentry","category-real-estate-tips","post--single"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How Living with Your Parents Makes You Rich<\/title>\n<meta name=\"description\" content=\"Living in your parents basement for a short time after college can make you rich. Find out how much money you would save.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.movoto.com\/blog\/live-with-parents\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Living with Your Parents Makes You Rich\" \/>\n<meta property=\"og:description\" content=\"Living in your parents basement for a short time after college can make you rich. 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