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?

I mean, it depends what you want out of life. For me, 26 is too old to be throwing all my money at travelling. It doesn't sound like you're thinking a lot about the future. That's me though. If you're happy, and your parents are happy, then do what you want.

That says more about your friendship group that society at large.

I'm only 10 years older than you.

Our friendship group started to show a split at around your age. Some of us started to look to the future and take life a bit more seriously. Some didn't. The second group were having more fun at 26.

They probably won't retire- they're still living in rented accommodation or parents with little to no hope of buying. I don't know what will happen to them if they are too ill to work or when their parents pass away.

By the time I'm 50, we'll have a fully paid off empty nest. We've sacrificed fun to pay into decent private pensions, and we will be able to save even more once the mortgage is done.

Of course you can't retire if you refuse to accept the reality of the fact you will get old one day. I will not be working into my late 60s and 70s because I've spent my 20s and 30s making sure of it. I'll send you a postcard from Bali.

So you didn’t suffer through the current crisis?

So you didn’t suffer through the current crisis?

Go for it, OP. One of my friends was still travelling at 26 and has never regretted it. If I were in your shoes I'd quit my job and just work your way around the world while you can.

Cornwall?
But maybe not as you said you wanted to visit there.

You don't have to answer this but why is your income so low for someone 5 years post-graduation? You're not on a grad starting salary.

Most grads are starting on £30K and would expect to be up to £32K ish by 26 even in a profession like teaching.

Did your degree not qualify you for a different kind of career with higher pay?

NHS salaries are not usually location-based.
Unless you change your job you're going to be stuck on a low salary.

How much was the rent for that house share in London in your twenties? What was your salary? Are you aware that rent has risen significantly since 2010, and has outpaced wage growth by a massive amount?

I'm glad it worked out for you as it did for many of us in our 40s, 50s, and 60s - but things are entirely different for young people coming up now.

So if your parents are unable to house you tommorow what is the plan? What about in 5 or 10 years time? That is the reality for you at some point, the more you have saved the less dire the reality will be.

I'm the same age as you and I bought my flat when I was 22. I have a couple of friends slightly younger than me (most of my friends are older than me) and they're not living with their parents either.

That is incredibly unlikely. Like, it would have to be an absolutely catastrophic event for that to happen.

Course they did.

On a low income of under £25K?
Only possible in some parts of the UK

Catastrophic events happen all the time. Whats the plan?

I'm also early 20s and don't know anyone still living with their parents. It definitely wouldn't be for me.

Maybe they’ll just realise you’re a grown adult and should still be mooching off them?
I can’t imagine being romantically interested in someone in their mid 20s still living with their parents! I’d have been embarrassed for them.

Have you spent the last 5 years having holidays since you left uni?
How are you paying your student loan off?

Did you start work straight after uni and did you not get career advice on a career that would pay more than the minimum wage? It all seems a bit sad really.

Well you don’t have live in that area. Find a job in an area you can afford to live surely.

It makes more sense if your parents will let you live at home to do so but also to take advantage of that to save money for your deposit.

So, you told your sons not to worry about responsbilities and just live a carefree life. Could you please come back in 10 years’ time and tell me how that’s working out for their wives and children please?

I’m incredibly happy

I’m talking they would have to lose 5+ properties in fires and both drop dead. Very unlikely.

How much of your student loan have you paid off?

Who did what? What are you talking about? That younger friends have moved out? Perfectly true. They're in their early 20s, it's perfectly normal you know.

If you were "incredibly happy", then I doubt you'd be on mumsnet defending your choices so earnestly.

It sounds fine for now but I presume you will want a home of your own at some point and you will need some savings then. It is easier if you get into the habit of saving sooner rather than later. I bought my first house at 27 [ it was more affordable then] but was unable to afford much in the way of travel and holidays for several years but it was worth it. Nowadays I can afford to travel and have nice holidays and get just as much from them as I did when younger. You don't need to do it all while you are young!

To give a different perspective..

Just because your parents are happy with all of this doesn't mean it's healthy.
Some parents 'use' the last child to leave as a buffer against their stale marriages. The rot shows when the last child leaves. Empty nests and all that.

Your parents may want to try to keep you at home to avoid being alone with each other.