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More Aussies are staying at home with mum and dad

Tuesday, 31 July 2012

Posted by Mozo

A growing number of Aussies are being forced to live with their parents for longer than they would like because they cannot afford to go it alone.

According to a new study conducted by Deakin University, there is a greater number of "boomerang kids" across the country, who have had no choice but to move back to their mum and dad's house, the Daily Telegraph reports.

There are numerous reasons for this, with relationship breakdowns and the high cost of housing the most prominent factors.

Author of the report Elyse Warner told the news provider that parents are happy to help out their children until they get back on their feet.

"Both parties recognise it is not forever, so they are willing to make adjustments knowing it is not for an extended period of time," she remarked.

Figures compiled by the Australian Bureau of Statistics showed just how many Aussies are forced to stay in their childhood home for a prolonged period. In 1986, 19 per cent of people aged between 20 and 34 lived with their parents and this increased to 23 per cent in 2006.

A lot of youngsters also choose to stay at home because it is a cheaper way to live while taking a degree.

Heading off to university can be very expensive and some people simply cannot afford to move to another town or city.

In order to keep their student bank accounts looking healthy, academics are relying on their parents to feed them and provide a roof over their head.

Leaders at online higher education provider Kaplan recently stated that this is becoming an increasingly popular option and open university courses are enabling people to study anywhere in the world from the comfort of their own home.

With the cost of living being so high at the moment, it makes sense to save as much cash as possible when studying.

Have a question about student banking? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801418744-ADNFCR

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