Living at Home Could Save You Money While Enrolled in Post-Secondary School or Training Because…
Are you currently navigating the costs of post-secondary school or training programs? Do you feel like the pressure of tuition, books, and other expenses is getting to you? Well, let me tell you from my own experience: living at home while enrolled in post-secondary school or training could save you a significant amount of money. When I was going through school, I decided to stay at home for several reasons, and financially speaking, it was one of the best decisions I made.
Many students often feel the urge to live on their own or move out of their family home for the sake of independence. But what if I told you that you could achieve that sense of independence while also saving money for the future? Living at home can be a major advantage when you’re juggling school expenses. Let’s dive into why this could be the best choice for you.
1. Lower Rent and Housing Costs
One of the most significant ways that living at home can save you money while in school is by cutting down on housing costs. Let’s face it: rent is expensive. Whether you’re in a city, suburb, or a college town, rent can be one of the highest expenses a student faces.
When I was in college, I knew students who were paying upwards of $700 or even $1,000 per month for a shared apartment or dorm. This was money that could have been better spent on textbooks, supplies, or even saved for future endeavors. By staying at home, I avoided the hefty monthly rent payment. Instead of paying rent, I was able to focus my finances on what truly mattered—my education.
- Average Rent vs. Staying at Home: On average, students can save between $500–$1,200 a month by living with family, depending on location.
That’s money you can use to reduce student loan debt, invest in a savings account, or explore other opportunities. The savings truly add up over time.
2. Save on Utilities and Everyday Expenses
Let’s talk about utilities. When I moved out of my family home, I quickly learned how many small bills I hadn’t even considered. From electricity to water, heating, and internet—living on your own means paying for all of these on top of rent.
By living at home, you’re not responsible for separate utility payments, which can vary month-to-month. I’ve been able to save hundreds of dollars because utilities were already covered at home. Additionally, you save money on things like groceries and laundry.
- Utilities Breakdown: On average, monthly utility bills for a single person range from $100 to $300. That’s money you can allocate elsewhere.
Additionally, having meals at home saves money compared to dining out or purchasing expensive grocery items for a solo apartment. You won’t have to worry about cooking meals every day on a tight budget. Instead, you can pitch in here and there or simply enjoy home-cooked meals, which can be both healthier and more affordable.
3. Save on Transportation Costs
When I lived on my own for a short time during my studies, I quickly realized how much I spent on gas, public transport, and parking. Living at home typically means you’re closer to school, meaning less spending on getting to and from your classes.
- Transportation Savings: I personally saved a couple hundred dollars per month simply by not having to commute long distances. The savings from not having to pay for parking or gas were a game-changer.
If you live at home and your school is nearby, it’s a great opportunity to save. Even if you have to drive or take a bus, you’re likely still looking at far fewer transportation costs than if you had to live in a more expensive area. Additionally, if your family offers you a ride, you can save even more.
4. Avoid Furniture and Home Setup Costs
Let’s be honest—setting up an apartment or shared living space comes with its own set of unexpected costs. From buying furniture to purchasing kitchen supplies, home decor, and even basic items like cleaning products, the costs quickly add up.
When I moved out for the first time, I spent well over $1,000 on furniture for my tiny studio apartment. Living at home means you skip all those expenses. You already have access to a fully furnished space with all the basic necessities, which leaves you more money to put into your school supplies or other financial goals.
- Furniture and Setup Costs: A simple setup for an apartment can cost anywhere from $500 to $2,000, depending on your needs. That’s a major cost you don’t have to worry about when you live at home.
By staying at home, you’re essentially avoiding a one-time cost that many students overlook—an entire home setup. This is a huge financial advantage for anyone trying to reduce unnecessary expenditures.
5. More Time to Focus on Your Studies
When you’re not bogged down by managing bills and the stresses of cooking meals or cleaning an entire apartment, you have more time to focus on your studies.
In my experience, I was able to allocate a significant amount of time to my schoolwork because I wasn’t overwhelmed by household chores or the financial strain of keeping up with rent. With less responsibility on my plate, I could immerse myself in my studies without worrying about when I’d get home to clean or cook.
- Time Saved: Imagine being able to devote an extra 10-15 hours per week to your schoolwork or to focus on building skills related to your field.
By staying at home, I found that I could focus my energy on academic success and even explore other opportunities like internships or extracurricular activities, without the distractions of managing an independent living situation.
6. Emotional Support and Mental Well-being
Living at home doesn’t just save you money—it also provides emotional benefits. For many students, transitioning to post-secondary school or training can be a stressful time. Staying at home offers a supportive environment that can help ease some of those challenges.
During my time in school, being around family provided a sense of stability and comfort. I had people to talk to when things got tough, which helped me navigate academic pressures. I didn’t have to deal with the isolation that some students feel when living away from home.
- Emotional Well-being: Studies show that students living with family are often less likely to experience feelings of loneliness or anxiety, which can impact academic performance.
Living at home can provide an environment where you can recharge and refresh after a long day of classes or studying. You don’t have to worry about the emotional burden of living alone or dealing with financial stress.
7. Ability to Save and Invest for the Future
One of the most important reasons to live at home during post-secondary education is the opportunity to save and invest for the future. If you’re able to save on rent, utilities, transportation, and other expenses, you can begin putting money aside for your future endeavors.
During my college years, I used the money I saved from living at home to invest in my career development—whether that was enrolling in extra courses, attending conferences, or setting aside a down payment for future goals. The savings accumulated over time, which gave me more financial flexibility once I graduated.
- Saving for the Future: Imagine saving up $5,000+ over a couple of years by avoiding rent and other living expenses. That could be a valuable cushion as you transition into your career or future education.
Conclusion: Is Living at Home Worth It for You?
After reflecting on my personal experiences, I can confidently say that living at home while enrolled in post-secondary school or training offers immense financial advantages. The ability to save on housing costs, utilities, transportation, and other living expenses allows you to direct your funds toward things that matter most—like tuition, career development, and savings for the future.
Ultimately, living at home can be a strategic choice if you want to maximize your savings and reduce unnecessary financial burdens during school. It’s an opportunity to make smart financial decisions and focus on what truly matters—your education and future success.