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Adult Children Living at Home – 5 Reasons to Live with your Parents Longer

living at home parentsDude, you still live with your parents?

This phrase is uttered time and time again those who live their own and can’t understand why anybody would continue to stay in their parents’ home. Although there is nothing wrong with moving out, don’t overlook the benefits of living with your folks a little longer.

If your parents support the idea, there are many reasons to stay at home for a few more years. If you could stay but are feeling the peer pressure to strike out on your own, weigh both options carefully. You may find that leaving the nest is not all it’s cracked up to be.

Here are five reasons to live with your parents longer.

1. Maintain relationships with your parents and anybody else (siblings, extended family) living in the home.
Let’s face it, many people move out and quickly lose touch with their parents. Phone calls start out a couple of times a week, but, eventually, you’re lucky if you can manage to talk once a month. While you may be looking for independence, moving out and avoiding your parents is a mistake that you will eventually regret.

The longer you stay at home, the more time you can spend with your family. Sure, there are going to be arguments and disagreements. In the end, though, you will be happy that you had some extra time to strengthen those relationships.

2. Focus on advancing your career or education.
When you live with your parents you don’t have many responsibilities outside of school and/or work. In turn, you can devote all of your time and effort to getting better grades, making more money, or moving up the corporate ladder. Living at home can be especially helpful when trying to get through college without accruing student loan debt. You can save money by not living on campus while also putting the cash you would be spending on rent toward your tuition.

Take advantage of this time to focus on your goals. As soon as you move out you will find that your life has changed forever. You now have a house to take care of and bills to pay. As a result, you will not have nearly as much time for your career or education.

3. Do you dream of owning a home in the future?
If so, you can save your money much faster when living with your parents. This is especially true if they let you live with them rent free. Why pay for rent when you don’t have to? By staying with your parents a little bit longer you are giving yourself enough time to save for the home of your dreams.

Let’s say you decide to rent an apartment for $500/month. By the end of the year you will have paid $6k in rent alone. This does not take into account the price of food, utilities, and other expenses. By staying with your parents for two more years, you can bank at least another $12k toward a down payment. Now do you see how quickly your savings can add up?

Even if your parents do ask for rent money, it’s usually a fraction of what you would have to pay if you were out on your own. Remember to offer something, whether it be monetary like rent or payment for a utility, or assistance with various household chores. Your parents are doing you a very generous favor, after all.

4. Can you really afford a home that offers all the amenities and features you have come to rely upon?
In short, your parent’s home is probably nicer than anything you are going to get on your own. There is nothing worse than moving from a nice home to a dumpy apartment. Sure, you will have your independence, but that is about it! Saving some cash and working to advance in your education or career will insure that you are able to afford some additional creature comforts when the time comes.

5. Upkeep, upkeep, and more upkeep.
What do you do if the furnace breaks at 2 AM? Who do you call about leaky pipes? If you buy a home you are going to be responsible for everything from interior repairs to lawn maintenance and much more. Not only does this take up a lot of your time, but it also costs quite a bit of money. Even if you move into an apartment you will find yourself spending time on maintenance. When you live at your parent’s home, you may be called upon to help out from time to time, but you won’t be solely responsible for upkeep.

Final Word

Don’t give in to peer pressure! If you have the option to stay at home a while longer, seriously consider taking it. As long as you are using the time wisely and working toward a better life, there is no shame in living with your parents.

Did you live with your parents as an adult? What were you able to accomplish because of it?

Obscure Types of Insurance Policies That May Help You in the Future

obscure insuranceMost people know a thing or two about auto insurance, home insurance, health insurance, and life insurance. It makes sense, as these are common policies that tens of millions of people pay for, month after month. But while these may be the most common types of insurance, there are others that offer very targeted coverage that you should be aware of. Just because a policy is obscure doesn’t mean that you should avoid it.

Consider the 5 types of insurance listed below:

1. Wedding Insurance
There is no denying that weddings are expensive. In fact, the average wedding costs more than $20k. But what happens if you spend all that money and nothing happens? What if the groom decides he doesn’t want to get married? What if bad weather throws a wrench into your plans? These unforeseen situations are where wedding insurance can really come into play.

Believe it or not, wedding insurance only costs between $200 and $500, depending on the amount needed and the disasters that are covered. If you’re already spending thousands upon thousands of dollars on your big deal, why not buy a policy that will protect you financially?

2. Fantasy Sports Insurance
Every year, millions of people get involved with a fantasy sports league. And every year, many people lose because one or more of their players is injured in real life. If your star pitcher tears up his shoulder and is out for the season, your chance of winning just went down the drain. As crazy as it sounds, with fantasy sports insurance, should something like this happen your entrance fee will be refunded.

3. Key Person Insurance
Every company has at least one “key person” who is essential to the overall well being of their organization. Most of the time this is the Chief Executive Officer. So what would happen if this person was injured or suddenly died? With a key person insurance policy in place, the company would receive a payout. While this is certainly no consolation, it is better to have the money than to be stuck and searching for a quick replacement.

4. Kidnap and Ransom Insurance
This is nothing fun to think about, but as of late kidnap and ransom insurance policies have become popular. This is due, in large part, to increased terrorism. Many big companies and wealthy families buy this type of protection. It is very common amongst companies and individuals who do business in high risk areas (where kidnapping is common), such as the Middle East.

5. Art Insurance
Do you have a lot of expensive art in your home? If so, your homeowner’s policy may not cover the entire value, if anything at all. It is better to pay a small monthly premium than to hope that your art is never damaged or stolen. No, a piece of art can never be replaced. That being said, you can be compensated for the value, should it be stolen.

Insurance policies can be had for a myriad of situations and scenarios. Some of these insurance policies may seem completely unnecessary, while others may be a perfect fit for your needs and lifestyle. However, the more you learn about these types of insurance policies, the better prepared you’ll be when and if disaster – in all its different forms – ever strikes.

Do you own any of these types of insurance policies? Do you have a policy even more obscure than these? Sound off in the comments and let us know whether you think these insurance plans are worthwhile or not.

(photo credit: Shelley Panzarella)

Luxury Items for Your Dog: What to Buy, What not to Buy

luxury dog suppliesPeople love their pets. This is particularly true with dog owners. Our beloved dogs are pampered, groomed, and even clothed. We make them into a regular part of the family. As more and more canine “luxury items” have begun to hit the marketplace, we’ve jumped on board to spoil our furry friends with these things, too. But have we gone too far?

When it comes to your dog, yes, there are definitely some luxury items that are worth buying. However, there are also some things that are nothing more than a waste of money. You need to know how to differentiate between the two, and ensure that you are spending your money wisely. Once educated, the level of love you give your pup is up to you.

What to Buy

1. Organic Dog Food
This is one luxury item that’s really worth some consideration. Many dog owners have found that traditional dog food is full of ingredients that may not be best for Fido. For this reason, the organic dog-food industry is taking off.

Since organic food is made from all organic ingredients, it is healthier for your dog. Additionally, this choice carries the same perceived environmental benefits as the organic foods that you yourself might choose to eat. Some of the most popular brands include: Wellness Dog Food, Canidae Dog Food, Natural Balance Dog Food, Blue Buffalo Dog Food, Solid Gold Dog Food, and HALO Dog Food. If you are interested in buying organic food for your dog, compare the brands above before making a purchase.

2. Homemade Dog Treats
This may be a stretch for some owners, but your dog deserves something special from time to time. There are many places to purchase homemade dog treats. For example, shopping malls have kiosks, and you can even find independent bakeries. Of course, you can buy all the proper ingredients, find a recipe online, and do it yourself.

This is definitely considered a luxury, but it is one that you should consider giving your dog. After all, homemade treats don’t cost much more than those that you can buy at the grocery store.

3. Orthopedic Furniture
Believe it or not, there is a huge market for orthopedic dog-furniture. For example, does your dog have a bad hip? If so, try an orthopedic bed. These are meant to alleviate pain and increase comfort for your ailing pet. These cost more than standard dog beds, but since they are made with memory foam, they are able to alleviate pressure on the joints and bones.

What Not to Buy

1. Luxury Clothes
Your dog is not a person! It does not need sweaters that cost $50 or shoes that are more expensive than the ones you have on your own feet. If you are going to purchase clothes for your dog, stick to affordable items. You can get something that looks great at a bargain price. After all, your dog won’t treat a luxury sweater with any more concern than a sale sweater.

2. Excess Furniture
From chairs to sofas and loungers, the dog furniture industry is booming. The question remains: does your dog really need the same furniture options as you? What happened to letting Spot sit on the floor? Pick the right-sized crate and maybe splurge on a nice bed, and you’re probably good to go.

3. Gold-Plated Dog Bowls
That’s right, these do exist. Seriously, does your dog really deserve to eat out of a bowl while you serve yourself dinner on a paper plate? Your dog does not care if it’s eating from an expensive bowl; it just wants food. Save your money for something more important, or better, take the amount you would have spent on a sparkly bowl, and donate it to a shelter in your area.

As you shop for luxury items for your pet, consider the points above. These will help you determine where to spend your money, as well as what you should and should not be buying.

(photo credit: