Are you flying back into the open nest we call home? You’re not alone, as hundreds of thousands of graduates are doing exactly the same, year in, year out. Britain’s love affair with the property market is never-ending and constantly causing havoc when discussed at the dinner table. Whilst there have been a number of changes that have somewhat made it ‘easier’ for first time buyers to secure a property, homeowners are still finding it increasingly difficult to secure a deposit and an affordable mortgage.
Let’s be honest, the days of grimy, sticky floors from the night before, left-over meals and cheap bottles of wine were fun for the three of four years at university. But you’re now 22 and expected to act like an adult. You’ve found yourself coming home to your single bed; an adjustment in itself from having a double bed. You’re now part of a new crop of graduates and it’s time to start putting the coppers away in a piggy bank – or a real savings account or Help to Buy ISA.
With a real financial landslide happening, saving the cash is not as easy as it sounds and if you’re fortunate to live at home after university, you may be solely relying on the bank of mum and dad to live and save at the same time. According to rplan, a London-based investment platform, nearly one in 10 millennials (those born between 1980 and 2000) do not expect to buy a house of their own. 40% hope to buy by the time they are 30 and 20% hope to do so by 35.
It’s all good and well, but here are 6 ways you can do your bit when living at home.
It may have been acceptable at university to suffer from nose blindness, but the minute you return, you’re back on home territory, which means the bad smell has to go! Febreze Fabric Refresher’s 2015’s advert describes the silent condition in which you get used to the odours around you, but they do not go unnoticed by others. The solution? When you return home from university, make sure you regularly clean your room and take responsibility for doing so. Once a week, grab a duster and spray, vacuum cleaner and new bed sheets and spruce up your room. Make sure your laundry; clean and dirty is appropriately put away and your room will automatically become a hub for enjoyment! Do this and your parents will not be the bearer of nagging.
Pay for what you can
Until now, your parents may have been paying for the luxuries in life such as petrol, your phone bill and that pair of shoes you have been wanting to buy. But now you’re home and earning in your new job, you can begin to relieve your parents of these monetary duties and take charge. Not only will it help your parents save a little extra cash a month for your summer holiday, it will teach you the art of budgeting.
Make dinner once a week
It’s time to perfect your culinary skills; or acquire some for the future. Your parents won’t be around your whole life to make home cooked food and it’s about time you learnt. Don’t lapse into moocher mode, instead read a little about what meals are relatively straight forward to cook for your whole family. Not only will it give your mum a breather from household chores, it is a great time to bond with the rest of your family. Jamie Oliver, BBC Good Food and Nigella Lawson have some fantastic ready-to-hand recipes that are straight forward and above all utterly delicious.
Taxi service for your siblings
Now you’re home, your parents can and will take advantage of the fact you can drive. Until now, your parents have been a taxi service for both you and your siblings, so it’s only right to take the pressure off and if your younger brother or sister has a party one evening, you should volunteer your services to drop them and even pick them up. Let your parents have a night off and enjoy a quiet dinner date out with friends.
Buy specific groceries
At university, you had the privilege of buying the groceries you wanted. However, now you’re back in your family home, your mum will do the main bulk of grocery shopping, so if there is something in particular you love to eat on a regular basis and your mum has never factored it into her weekly shopping costs, then you should be paying a visit to the supermarket yourself. Perhaps, offer to your parents that you will buy specific groceries every week and that will be your contribution.
Treat your parents to a meal out
To put it plainly, your parents will have spent almost £250,000 to raise you until the age of 21 according to research carried out by The Centre of Economic and Business Research. The basis cost of raising a child in the UK has increased by 63% since 2003. With the statistics in place, it’s only fair that once in a while you offer to pay for a meal out, or cinema tickets or a weekend away for your parent’s anniversary. After all, they definitely deserve it!
Feature image: postgradproblems.com