Plus, what percentage of 25–34 year olds are living with their parents?
The Habits of Frugal Families
You can thank mom for that
Our parents give us more than a place to live when we need it. They also foster our sense of financial independence. We often inherit their financial habits and attitudes toward money — good or bad. And we carry those into the world with us when we strike out on our own.
But the picture of financial independence is changing in America, especially for the so-called boomerang generation. While U.S. Census data shows fewer adults 25 to 34 years old are living with their parents since the pandemic, that number has grown overall since 2000 from 10% to 15% in 2023, mostly due to economic pressures. What might surprise you is the difference between men and women when it comes to boomeranging, so check out the Daily Mint below for details on those trends.
Negative views about boomerang kids seem to spring up everywhere, but here at The Penny Hoarder we say multi-generational housing can be a very frugal move. So if you’re a frugal young adult living with a frugal parent, or a frugal parent trying to raise a money-smart child, then these 15 behaviors may already be pretty familiar (literally!). From hoarding free condiments and napkins to wearing clothes until they fall apart, these are great money habits to share from one generation to the next.
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