Staying at home could help eliminate debt
Staying at home could help eliminate debt
- Wednesday, 9 December 2009There are currently more people in their 20s and 30s living with their parents than at any point in the last 20 years.
That is according to the Office for National Statistics (ONS), which reveals that many young adults – particularly men – are delaying "growing up".
There could be a variety of reasons for the trend, such as the expensive nature of rent or a mortgage compared with the rent-free perks of home-living.
Living with parents does offer one great opportunity for young adults – the ability to
get out of debt and pay back student overdrafts and student loans.
According to the ONS, 25 per cent of men aged between 25 and 29 still live with their mum and dad, with the corresponding figure for women standing at 13 per cent.
For those in their thirties, the proportions of men and women who remain under their parents' roof are ten per cent and five per cent respectively.
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