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

[WeCouldBeNice]

And apparently that’s a very unpopular decision amongst certain family members.

I have grown up always listening to my mum and grandmother saying that they regretted not travelling more in their youth. So I’m doing it, before I can have any regrets.

i work a job that pays just under £25k. Moving out would be miserable. I’d exist to pay my bills and nothing more. I am unable to borrow enough to even purchase a flat in my local area. So I’m spending all my money on travelling instead. Short trips. Weekends away and longer European trips next year.

my older brothers are horrified by this (despite both doing it themselves). They think I should be moved out and renting by now.

my dad turned round to them yesterday and asked if they wanted to ever see their daughters struggling and unhappy. They obviously said no, so he asked why they expected that of me. They couldn’t really answer.

theoretically I could take the money I’m putting into my travel savings each month and use it to save for a house. But I’d never get a big enough deposit to allow me to buy anything even anywhere near decent to live in. And I’d then be bound to a mortgage and never be able to do anything other than sit at home.

is it really that bad to do this?

You need a better balance - save some money and travel. You can’t live at home forever.

I mean, there's obviously reasons to do what you're doing, but what are you going to do after travelling? What's the plan?

Sounds very grasshopper who sang all summer.

I don’t intend to. I’m actively looking at promotions etc at work. But I’m in the NHS, which means my pension is pretty much taken care of, and I need some time to bed in. There’s no point in me locking my money away in a LISA, because it’s just going to sit there.

Hopefully I’ll never be “done” travelling. I obviously want to get promotions etc., but don’t ever really see myself stopping these trips.

Make hay while the sun shines, I say.

Enjoy today, nobody knows what tomorrow brings.

If both you and your parents are happy, then it’s no one else’s business.

Nope. If you’re happy with it and your parents are happy with it - great!

Freedom to travel is a gift. Time with your parents is a gift.

Put in place a long term plan to save to move out when you want to, but for now enjoy yourself!!

This is entirely between you and your parents. You don’t say if you contribute to the household bills etc. If you don’t then i can see why that might lead your brothers to think you’re taking the piss. You say they did it too?? Exactly what you’re doing? For the same length of time.
If you can honestly say that your parents support this and you are a good person to live with - helpful, respectful, tidy etc. Then it’s not anyone else’s business.

I mean it’s your life and your money and if your parents are happy to support you I don’t see why it can’t be a happy interlude.

But I cannot imagine the situation NOT changing at some point. If you meet someone and want to start a home, or if your parents situation changes and they need to move. Silly not to have some money put aside.

This is exactly how I feel. My parents genuinely love it. I have a sibling and they travel a lot too and my mum in particular is really enjoying seeing this stage for us. She married young, into an abusive marriage, and never got the chance to do a lot of this. She actively encourages it. My dad just rolls his eyes, laughs about putting our rent up and then helps me plan my next trip!

We both pay rent. I cook all my own meals, own laundry etc and will regularly clean the house. My older siblings both did it and one did it till his mid 30s!

Hopefully you at least contribute to your parents bills, buy your own food etc?

Edit - I can see you pay rent, cross post

In some parts of the world, it's perfectly normal to still live with parents. You don't need to live by rules of what people say you should do, as long as everyone is happy with the arrangement.

Some people do live at home though in their parents homes. Forever.
Those people tend to use relegion or culture as an excuse though

If you contribute towards your household and your parents are happy with your plans then I see nothing wrong with it. It’s only your parents opinion that matters as it’s their house. Having a bit of money saved up for emergencies is a good idea though.

Honestly yes, I would say they would respect you more if you actually lived and worked abroad. Work stays, TEFL etc see the world and earn money

with rents as high as they are this makes total sense.

If you're ok with it and your parents are ok with it (most importantly) then who gives a shite what anyone else thinks. It’s your life and you don’t need to explain your decisions to anyone.

Living at home is absolutely fine and sensible but saving a portion of your salary is important

If you are all happy then so what. Personally I'd squirrel a bit of money away doesn't have to be much a month. For example your parents are at an age (assuming they aren't yet retired) that it's harder to find a job if they get made redundant so they might need you to help prop up the bills. Or even as they get older and the house has to be sold for care. Just gives you a little scope if you need to go and rent somewhere that you've got the back up cash to do it. Saving for a future you don't know about yet doesn't hurt. Even if it's just £50 a month it could help somewhat. However enjoy the travelling so many of us wished we could have at your age.

I’m working and travelling, just without doing the working abroad - I have a great chance at a really good career here, so I’m not going to throw that away

YABU and a bit immature not to plan for your future. Your NHS pension is definitely worth having but is linked to what you earn and doesn't necessarily mean your retirement is ‘taken care of’ in the manner you wish it to be. It may mean you have a roof over your head, but you may want more for yourself than that?

I don’t blame you for wanting to travel. Travel is amazing! But at your age, the opportunities to save and invest and make the most of compound interest are fantastic! See for yourself https://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php
And a LISA is definitely worth having.

The wise thing to do, in my opinion, is to spend half your savings on travel, and save the other half for the future.

The problem is to survive as a pensioner you really need to have a mortgage paid off. I’m in my 50s and see so many people shitting themselves when they do the sums. Paying extortionate rent or mortgage is not something you want to be doing in retirement. A state pension won’t even cover ever increasing rent in a lot of areas .Also a pension on £26k is not going to be a lot and both NHS and state pensions are not going to be sustainable as they are. Who wants to have to keep working in their 70s, you’re old for quite some time. The state shouldn’t be funding those who make zero provision.

I’m instilling into my dc that being mortgage free and an ok pension in old age is the priority. They can stay with us if they need to but a significant chunk of their wages will need to go into savings for a property. We’d all love to jet around the world instead of paying bills but real life isn’t like that or an Instagram feeed.

Something tells me this will fall on deaf ears, you’ll find out for yourself nearer the time when it’s too late. 🤷‍♀️

What are your long-term plans though?

Do want marriage and kids etc?

What will happen in many years to come when your parents die? Are you expecting to still be living at home at that point?

This is what works for you right now and it makes sense to me.

It probably won’t work for you later down the line and if/when that is the case you can review things.

Good on your dad for having your back.

I guess the drip feed that would change everything is that your parents are extremely wealthy and you will inherit plenty when the time comes?