It doesn’t seem like news at all especially if you are living it. But the trend for Vancouver millennials to live with their parents is a shift from the lifestyle expectations of many people in generations before us. For some cultures and families, “living with the parents” until you get married, has always been the expectation. However significant pressure is building around the high cost of housing in Vancouver. Combined with the erosion of earned income spending power, Milllenials are responding to the pressure by choosing to live with their parents… longer.
Here are ten ways to make the most of the opportunity to live with a parent during your twenties. Without some intentionality its too easy to coast while living at home and neglect the development of important life skills.
Ten ways to make the most of living with your parents.
1. Pay yourself rent even if you are not paying rent to your parents. Make “rent” a regular savings. Someday you likely will pay monthly rent or you will have a mortgage.
2. Start a business – even if you are going to school. Both the extra income and the entrepreneurial skills will serve you well. It might even turn into a career.
3. Develop your budgeting and saving skills. Make and remake a budget monthly by telling your every dollar where to go. Consider reinvesting money earned in your new business, back into the business since your “overhead” costs are low.
4. Discover an interest and start blogging about it.
5. Accept household chores and make a significant contribution to home-life by conscientiously choosing to do things you might not be great at but are necessary life skills. You’ll become a better roommate or spouse someday.
6. Build a few significant relationships and a social network that promotes values that fit your vision for life.
7. Learn how to build trust in relationships by “letting your folks know what you are doing and where you are going.” It’s actually good manners and a great practice for building trust in relationships.
8. Get involved in your community and serve others to make it a better place. Community leadership with volunteers is one of the most challenging spaces for leading.
9. Do something new or novel each month so you nurture a growth-mindset responsive to change.
10. Have some conflicts. Learn the skills of crucial conversations. Learn how to disagree as an adult without blowing up or creating a cold war.