Why I moved out of my parents house at 23

Thinking about moving out of your parents' house? Or wondering if it's better to stay a bit longer? This choice is more than just deciding where to live. It's about growing up, learning to handle money, and becoming more independent. In this post, we'll look at how living on your own or staying with your parents can teach you important things about life and money. Let’s dive into this big decision and see what it means for you.

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Why you should live on your own

Living independently is a journey I definitely recommend. It's not always easy — you might face tight budgets and have to make do with less. But these challenges teach you valuable skills. You learn how to budget, how to make your resources last, and how to take care of your own space. It's a time when you start to value things like a quiet evening at home, a meal you cooked yourself, or the way you've arranged your living space to make it truly yours.

When you're on your own, your budget might be tighter. This can be a good thing for your financial future. You start to think more about how you spend every dollar. You might learn to cook at home instead of eating out, or to find free or cheap ways to have fun. This kind of smart spending can lead to good habits like saving a part of your income or thinking twice before buying something you don't need. These habits can help you a lot in the future, especially when it comes to big financial goals like buying a house or saving for a wedding.

Tough financial times can be a strong motivator. When money is tight, you might start looking for ways to make more. This could mean asking for a raise at work, looking for a better-paying job, or even starting a side hustle. These challenges can inspire you to set higher goals for yourself and work hard for a better financial future.

Moving back home

Coming back to live with your parents after being on your own can be a smart financial strategy. This move can help you save money, reduce debts, or increase your savings and investments. With the experience of having lived independently, you'll likely have a clearer understanding of your financial situation and what you need to achieve your goals. This time at home can be a valuable opportunity for planning ahead, whether that's saving for a house deposit or laying the groundwork for starting your own business.

However, it's important to recognize a potential trap in this arrangement.

While living with parents can be a practical way to save money, it's easy to fall into the mindset that you have no other choice. This kind of thinking can be harmful, leading you to feel stuck and as if your life is on hold. Remember, the decision to move back home should be a step towards achieving your goals, not a permanent solution.

It's crucial to maintain a balance. Don't put off your personal happiness and sense of freedom for a future that always seems just out of reach. While financial stability is important, it shouldn't come at the cost of your overall well-being and independence. Set clear goals and timelines for your stay with your parents, and actively work towards moving back out. This way, you can make the most of the financial benefits of living at home, without feeling like you're trapped or delaying your life's ambitions and experiences.

My experience living in Central London

Living in London before the pandemic was an eye-opener. Known for its high living costs, it taught me the importance of a stable income and smart financial planning. I was lucky to have a 30-minute walk to work, avoiding long, sweaty train commutes, and lived right next to the River Thames, adding a sense of peace and tranquillity to my daily life.

I shared a home with three of my best friends, and while this living arrangement had its challenges, like coordinating chores and respecting each other's space, it made my life fun and active. We shared so many memorable moments, from spontaneous nights out to chill whiskey nights at home. Living with close friends transformed our house into a home that we created ourselves.

This experience wasn't just about managing finances; it was about feeling in control of my life, balancing work, health, and social connections. Living in London shaped not only my financial understanding but also my approach to life.

University life doesn’t teach everything

While university was a great experience for me, it definitely did not prepare me for real-world financial challenges. Paying bills, managing unexpected expenses, and learning to budget are skills usually acquired outside of full time education. These real-life experiences are so important in shaping your understanding of money and financial responsibility.

If you’re feeling overwhelmed by financial decisions, whether you're living independently or considering moving out, I offer financial coaching and planning services. My goal is to help you understand and manage your finances more effectively, aligning your financial plans with your life goals. You can learn more about these services here.

Whether you choose to move out or stay with your parents, each path offers unique lessons and opportunities for growth. It's important to think about how these choices affect your financial habits and independence. Remember, both living independently and staying at home are valid choices, each with its own set of benefits and challenges. Whichever path you choose, make sure it's a step towards learning, growing, and becoming more financially strong.

If you're interested in discussing your financial goals and how I can help you achieve them, feel free to schedule a FREE discovery call.

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