I’m 26, and I’m not saving for a house or planning to move out

I’d forgotten about the sex drive thing! You are so right. Apparently testosterone levels have halved over the last generation. Also, when I was young, having a boyfriend over to stay the night was verboten. Today, it’s quite common for young adults’ partners to stay over.

I get living at home while you’re saying for a deposit. But living at home while blowing money on travel seems really immature and short-sighted.

You complain that you can’t afford somewhere nice, but you will still have to move out at some point (unless you plan to die there?) and if you’ve spaffed all your money on travel your first home will ne considerably smaller and dingier and in shitter area than if you’d saved up a good deposit over time.

Unless you’re hoping Prince Charming will swoop in?

I think the idea of working abroad for a bit is wonderful. Have you thought about this, OP?

That sounds like a good idea.

The poster isn’t even going travelling she’s talking about it taking a few holidays ! Op I’m married have a house and little kids - and use all annual leave and bank holidays to go away various places - we go camping in the uk warmer months and drove around Europe and long haul every other year ! Travelling I thought you meant packing up for 6months to a year which would actually probably be cheaper if you went to Asia it something

Nah, OP is hoping others are happy to do this on her behalf, then she can just live there.

You’re being silly. Most of us were not earning more than you are when we were 26. We still had flat shares with dodgy house mates or rented a room somewhere. In my case, I moved to Asia (travelling!), got a job there and a dodgy flat share. It was great. I was not saving for a house deposit at 26. But I wasn’t living at home either. You can still work and travel and plan for the future.

I met Dh at 28 and we still travelled. We used our 30s to save for a house deposit. Yes, a whole decade of saving, but we still enjoyed life while doing it. Bought our first house (nearly £1mil) at 40. Have a lovely life with lots of travels and hobbies and 2 dc.

We are definitely not sitting at home being sad about our mortgage. We’re actually grateful that the mortgage we pay on this massive investment of a house is only a bit more than we used to pay in rent. We will pay off the mortgage in the next 10 years with overpayments and be mortgage free the rest of our life. When we eventually die, the house, worth probably closer to £2mil by then, will be a great inheritance for our dc.

All that from being 26 and making like £18k a year. Life will not always be how it is in your 20s. But you do have to work for it.

Why is an earning adult being subsidised?

Yes, it's awful when you think about how the quality of young people's lives have worsened over the last few decades.

Sorry, slightly off topic, but have you investigated buying the lease of your house? (So that you then own the freehold?) Leasehold houses are very unusual (unless there is a communal garage or communal grounds shared between a number of houses). Our house was leasehold when we were buying it - it was an end of terrace, about a hundred years old, but historically was leasehold, so the solicitor got in touch with the person who held the leases, negotiated, and we paid a sum of money and we now own the freehold. Is this something you could explore?

My 22yr old son and his gf have started a LISA. I have always encouraged my kids to get on the property ladder as soon as they can.

It’d be cheaper to take a sabbatical and go to Asia for 3 months than to go for lots of individual European trips. Then once you’ve got the travel bug out your system you can come home and start saving to leave home. Or would you work abroad for a while?

Get yourself mortgaged to the hilt OP. Life is all about accumulating material possessions and building status. Just hope that the incomparably amazing "babies first steps" don't happen during business hours, because you'd be at work, and you'd miss it. It's very easy to find a bitter, regretful person with lots of assets and no life experience.

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OP could even consider buying with a (or said) friend as a means to get on the property ladder. People do this if they struggle to buy alone or not in a committed relationship.

Surely at some point you’re going to want your own space and be the adult in your home? You should at least be preparing financially for that moment?

My DS will be 25 soon..he earns £30k ish..he's happy at home with us. No rent to pay. He's got a decent chunk saved though..

This is not at all true. The government tops you up 25% anything you save that year, each year until you're 50. So if you save £4K thats now £5K. Better than any interest rate available! And then theres the actual interest on top. Plus you can have a stocks and shares LISA, so your money can grow even more.

I see what you're saying and tbh if your parents are happy to have you there then can't see what the issue is AS LONG as you're paying them something to be there. My husband (then boyfriend) and I spent our savings on a year long round the world trip when we were 26, it could have gone towards a deposit but we wanted to travel.

Now I have a child I'm so glad I did as that kind if trip now isn't accessible as even when he's grown I'd not want a year seeing him. I'd also be older and that kind of travel of constantly moving and sleeping on 30 hour buses etc woukd be wearier. We were renting our own flat when we saved though so bit different but I had flack from my brother at the time for not using the money to get on the property ladder, but no regrets here.

I think OP that you are living your best life on the income you currently have. And why would you not?
Homebuying is out of reach for you, even if you were to save a substantial deposit as the income multiplier still isn't enough to buy as a single person. So, yes, go and travel. I don't think many people when looking back regret such experiences.
But in my mid fifties I do regret not being able to buy and am stuck in rented without security. It is a worry.
Of course, life can change and quickly. You could meet someone and together wish to buy your first place. So finding the balance between spending on travel and saving for the future is the key. Future you will be glad you put some money aside.

I don't blame you for wanting to travel, you're only young once. You won't be on £25k forever so I wouldn't worry too much. Enjoy yourself and spend your money as you choose, it's your life.

The thing is, when you return from travelling you'll be different and will you still be content to be living with mum and dad? I know when I was young I'd rather have starved than still be at 'home'.

Have you ever lived away from home?
Did you go to uni?

£24K for someone aged 26 is quite low. The median grad salary (age 21-22) is now around £30K even in typically poorly paid jobs like teaching.

Your earnings are low- not much more than minimum wage- and maybe you need to focus on advancing your career by studying and getting more qualifications if they are relevant?

If you do meet someone and it becomes a permanent relationship, you aren't bringing much to the table, in terms of your priorities. Unless they too want a ho-bo type life.

Personally I think you're silly not to save for a place now, while you can without commitments. You sound like my friend who just wanted to travel all of the time while living with his parents. He is now 41 and renting as his elderly parents had enough of him living at home! He is sad he'll never own a property and complains when the rent increases. I have paid off my mortgage and glad to live in a house I now own. I took out the mortgage when I turned 21. You should consider saving up for your own place so you never get trapped into high rentals.

What if your parents need to sell their house to pay for their care in the future? Or want to downsize? What then

I assume you’re single. I’d find it very unattractive in a potential partner that they hadn’t learnt to stand on their own financial feet. Not long after meeting my dh we bought a place together with the money we’d both saved. I doubt he’d be very impressed if I didn’t have any at all

There nothing wrong with wanting your daughter to be safe at home with a decent quality of life.

However even if your parents do indeed express “sheer joy” at the thought of you remaining at home forever, i think behind your back they are probably saying “shouldn’t she be saving just a little bit shes never going to be set up in space of her own if she spends all of her money”.

As others have said, put some away. Most of my life Ive had very little spare cash because it all went on bills. I went without gigs, holidays, new cars etc. I didn’t want debt.

I regret some if it. I didn't have the balance right. But I don’t regret having practically no mortgage now and being able to travel amd do things. The problem with you is that you too dont have the balance right - in the other direction to me!

Start putting £100 by per month now. Tell your parents what youre doing. See if they say “dont save, spend it all on travel”. Because they won’t!

i think they will tell you that saving some is good and they are pleased youre getting the balance between fun and future needs right. That they love to see you enjoying life and considering your future. I think they will be so proud of you.

Go on, ask them. Youre so sure they want you to spend every penny on travel and they love it, but deep down i think they are probably concerned about your immaturity and lack of work place ambition in order to earn more to have the lifestyle you desire.

PS it’s just you isn’t it, you haven’t brought a gf or bf to stay with you in your parents house? As that would be out of order.

I have 2 DDs, one is your age OP, the other is 24. The 26 year old has just completed her PhD and started her 1st job. The 24 year old has a Masters and is now in the 2nd year of her graduate role. Both earn more than you do (not a dig, just a statement of fact). Both live independently away from home. DD1 has been sharing with friends in a rented house since she started her PhD, living on a £20k stipend. DD2 rented a flat alone when she started work just over a year ago. They are both around 200 miles from home so living here was never an option.

Both were able to travel during their studies to the Far East and DD2 plans to go back next year. DD1 took advantage of student rail discounts and has been all over Europe with friends, to conferences etc.

Both have had a LISA or Help to Buy ISA since they turned 18. DD2's is now rather a nice nest egg. I'm just gutted that I'm too old for one. Whilst interest rates aren't great and you can't save that much per year in one, the government tops it up by 25%. Other than the stock market and luck, I cannot see those sort of returns so readily available elsewhere. I didn't have to tell the DDs to get one; they read MoneySavingExpert regularly and it was a no-brainer to them. DD2 will sometimes ask for advice from us, or more now to use me as a sounding board for her ideas, but she is quite risk-averse so will not be looking to buy a property until she has worked for 2 years in the same company. The rent she pays buys her flexibility and, as her company has offices abroad, should she want to change location, it would be relatively straightforward for her.

I would advise you to look at Martin Lewis' advice on LISAs. Even putting £10 per month in it would be a start. Then I would get savings pots going for saving and travel. You can do both if you plan carefully.