Increasing number of adults saving money by moving in with parents
A new study reveals that more and more adults are saving a fortune by living rent-free at home.
New research in the UK has revealed that people are saving up to £17k a year in rent and bills.
This is because they move in with their parents who charge them less or nothing for staying at home.
The survey of over 1,000 parents found that 98% believe children over 18 should contribute financially towards the household.
However, over half don’t actually charge their children anything.
This phenomenon has been called “boomeranging” cause of the way kids come back home after university instead of starting their own lives.
Of those parents that do charge their kids, their boomerang children are paying up to 90% less than the average cost of rent, bills, food and general living costs in the UK.
Should children older than 18 be kicked out if they don’t pay rent at home?