@Erica Well, your friends shouldn't have laughed at you, whether they made poor or good financial decisions. "Considering the spending choices that we see some people make even when they are 'an adult' and live on their own, I don't think that living with one's parents automatically makes them irresponsible." Quite. But don't forget she quit her FT job so she could do screenwriting, and moved back to her parents' home. She had a full time job. A lot of stories people are sharing in the comments are much harsher.
@nichteilen Yes, my parents definitely used RESPs and savings bonds. The only trouble with those is that you do have to have money to invest in the first place. http://www.canlearn.ca/eng/savings/cesg.shtml To receive the Canada Education Savings Grant (CESG), a Registered Education Savings Plan (RESP) must have been opened for the child. (Anyone can put money into an RESP for any child; you do not have to be the child's parent.) The basic CESG provides 20 cents on every dollar you contribute, up to a maximum of $500 on an annual contribution of $2,500.
@SnarlFurillo Ahhh, hey, thank you! Flipside is I'm saving much less for myself lately (I saved a fair amount before when living with my partner). But yes, I am definitely thankful I can help them. They usually scold me to be more frugal :P and I usually tell them I have the rest of my life to try and make money, so they can always use mine :)
I'm turning 30 this year. My parents paid my university tuition (in Ontario -- it was about $20k overall), and I lived at home during university, allowing me to save a bunch of money I have sort of spent but also haven't -- a big ball of it is still in my savings, which is part retirement, part house, and part stuff I hope doesn't happen. I'm SUPER lucky to have a stable government job that started in university as PT and turned into FT. I live about five minutes away now. I go home for dinner once each week, and they will give me orange juice, rice, and TP, unbidden, occasionally. I still buy all these things for myself too. They kindly accept all my mail packages and a couple of times a month, my dad will drive me to the grocery store if there's a sale on heavy things. I buy their groceries when they shop with me. Every month, I give my parents a small amount of money (smallish to me ... may not be that small to some, but all about perspective) to help with their expenses now that they both don't work as much. This started about a year ago. I've been saving for several years for my youngest brother's post-secondary tuition, at my mom's request. I also pay their household internet every month. I shared a cellphone plan with my mom until a few years ago (no data, just phone). My mom would DIE .... with happiness ... if I moved back home. But I can just afford it (after 4-5 years of living with my ex), so I'm doing it for now. They really don't have the room for me, with my two brothers living home in a small 3-bedroom house, and honestly, it's better for me as a person, emotionally. Everyone's experience is different in that arena, but for sure, I've been a better person for moving out. And for SURE, I'm missing something in my list of how my parents help me ... you know, the priceless stuff.
@NoName Yeah, for sure. I come from a culture that's the same (Chinese) and many of my co-workers -- Chinese, Portuguese, Jamaican -- lived at home until they were married. My mom has proposed before that I live in the family basement with my fiance/husband until we saved up for a home. Might I say, growing up with that culture and being accustomed to this practise in acquaintances has not meant I want to do the same :) Just not a case of culture shock for me, as some people have put it.
@SnarlFurillo Ah, yeah, I can see how that'd be cheaper than rent. Still, getting to sleep in my own bed afterwards = priceless to me.
@Crystal Kopp@facebook "There are plenty of people out there who's parents pay for their apartments, I don't see how living in their house not really costing them any extra money is different." Yep, and I don't really see how getting your parents to pay for your apartment is a sound financial strategy either. I'm glad such people are so lucky, but acting like it's smarts rather than privilege is a little disingenuous.
How DO adult relations go down for dating while living at home with parents? Just curious.
Hrm, yeah, BUT KIDS LOVE STUFF ... but 10 presents for each girl seems kind of over the top. Also, nope, I know parents who don't need more cheap plastic stuff for their kids.
This was lovely. Thank you for the look back ... just how much things have changed, and have not. I love finding affinity with people with struggles like ours.