Are You Ready to Move Out of Your Parents’ House?

Moving out of your parents' house is a huge milestone in your adult life. But it's a move that comes with both benefits and costs. Before you pack your bags, consider the value of staying at home versus moving on.

Reasons to Live at Home

1. Save money: "When I lived at home, I put half of each paycheck into a savings account," says Elise Williams, Co-Founder and Editor of EarnSpendLive.com. "By the time I decided it was time for me to get my own place, I had saved up $15,000."
2. Help your parents: By being at home, you can be near your parents and assist physically and financially, whether you're helping with chores or footing the grocery bill.
3. Travel: Instead of spending a third or more of your paycheck on rent, you can use some of your extra cash to explore the world.

Reasons to Move out of Your Parents' House

1. Independence: If you're feeling stifled at home and you're ready to pave your way, it might be the right time to move out.
2. Job Opportunity: You may have more opportunities to further your career in a different city or state. Taking the leap to relocate can be scary, but also rewarding. 
3. Responsibility: Moving out on your own means you'll be taking control of your finances, making a budget and planning for the future.

If you're ready to take this next step, check out these important things to know before you sign a lease.