Me too - we saved a good deposit while renting and neither of us are investment bankers, nor did we live on beans with no heating. Having an old banger, a small flat, no kids and no pets definitely helps! Also we both work in jobs where itās not London-centric, so neither of us ever had to commute to London.
TBH Iām a bit
at all these āmy kids canāt rent and saveā stories. 2 people on 30k each (so about 4k take home) renting a flat for Ā£800pcm should easily be able to save half their salary every month, as we did. My friends who say they canāt save live in London, go out for dinners/drinks constantly and have expensive gym memberships & the like. Of course nowadays itās much harder with inflation but if youāre sensible and donāt live above your means itās still do-able.
Where I live its impossible to get a rental as a single person. weve got a 3 bed house on our road for Ā£1200 a month, your income needs to be 3 times the yearly rent to apply for it.
Theres a 1 bed flat above a shop for Ā£800 and you need earn 3.5 times the yearly rent for that too.
Sometimes moving out and saving takes longer than staying home and saving.
I couldn't care less if my child wants to stay at home till he's 30 to be able to save.
I never get why people are literally desperate to turf their child out at 18 and they do that with great frequency on there. Can't imagine my parents having done that either.
I've got a friend whose parents asked her to leave home at 18. She finished sixth form, turned 18 in the August and her present was her first months rent and deposit for a 1 bed flat. She left the week after she turned 18 and has never stayed a night with her parents since because she is an adult and her parents think its inappropriate.
As a result she sees them 4 times a year, Christmas Day and birthdays and only for few hours as she has to travel to get back home as they moved a 3 hour drive away.
Nothing wrong with staying at home to save, yet people have this attitude that it's wrong and means you aren't a proper grown up and don't know how to survive, which is just a
bleeping bizarre attitude.
If your offspring cannot survive, cook or budget, it's because you've failed to teach them, not because you didnt kick them out of home at 18!