Is The Best Budgeting Trick?

896 Words Aug 24th, 2015 4 Pages
The U.S. Census Bureau recently reported that more than 30 percent of people aged 18-34 still live with their parents. This number works out to be a whopping 42.2 million people, most of whom are college educated and women. What’s shocking about that number is that there are more people who are living with their parents now than there were during the recession. While many people consciously choose to live with their parents, many others want to be on their own but don’t have the financial means necessary to do so. However, with one budgeting trick, those who want to be independent can be well on their way sooner than they think.

The Best Budgeting Trick

It might seem too good to be true but one exceptional way to become accustomed to living on your own is to budget in rent even if you’re living at your parents house for free. This trick not only gets you accustomed to paying for rent or a mortgage regularly, but it will also help you build a substantial enough savings account to allow you to feel comfortable moving out of your parents house.

Many parents do not charge their adult children rent, believing that they are being helpful and allowing their children to become more financially aware. However, because children are not responsible for paying to live somewhere, they can easily get lulled into a false security that they have more money than they really do.

I personally use this trick to save for my future car. It’s not exactly the same thing but it’s similar. I have…

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