About a third of 18-24-year-olds are living with their parents—and they want to keep it that way. Because of this year’s skyrocketing inflation rates increasing the price of just about everything, Gen Zs entering their 20s are saving by living with their parents or other relatives. According to a Credit Karma study, young adults have flocked back home since the start of the pandemic and now they are considering it a long-term housing solution. For those not living at home, nearly a third are spending about half of their monthly income on rent/mortgage, and 28% of 18-25-year-olds living on their own say they don’t have extra money to save at the moment. YPulse research shows that 65% of young adults say their life plans were disrupted by the pandemic and their top three financial goals right now are to 1. Save money, 2. Increase income, and 3. Live comfortably/Financial stability. (NYT)
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