More young adults living at home to 'save money'

Posted at 7:11 PM, May 25, 2016
and last updated 2016-05-26 15:10:43-04

 Nearly one third of millennials live with their parents, this according to data by the Pew Research Center. Students at Lansing Community College say its a move that's saving headaches down the road.

"I definitley think it's better," said 19-year-old Danielle Taylor, still living with parents.

Taylor says her parents are letting her stay at home, as long as she's going to school and working.

"It saves money while you're going to school and is less pressure than living on your own," said Taylor.

FOX 47 News spoke to students at Lansing Community College who say living at home isn't something to be embarrassed about.

"I wish that I was living at home," said Ashley Simaru. "I feel for those who are living at home who don't have as much privacy with their significant others or whatnot. Living at home is much cheaper because college is expensive."

Ted Feight of Creative Financial Design says financially, it makes sense as many are facing college loans and recovering from the 2008 housing crisis.

"If someone is having trouble or struggling, I think that going home (parents) don't mind it.

But there comes a point where parents are actually doing more harm than good. Parents run the risk of children becoming 'leaners.'

"When you create leaners, they're dependent upon you," said Feight. "When you die, they really can't take care of themselves and then they spend all of your money."

Ashley Simaru is living on her own. She says for those that aren't, it shouldn't be a big deal.

"If you need to live at home, then you need to live at home. If not and you feel like you're ready to go out, then you're ready," said Simaru.

Visit the Pew Reseach Center online for other data published by the research center.