Record Numbers Unable To Fly The Nest

Young Adults Unable To Fly The Nest
23 February 2016

For many of us whose children are still little, the thought of them ever flying the nest can strike fear into the heart.

But what if they don't fly the nest? What if our kids don't move out at 18 or 21 or even 25? What if house prices continue to sore to such an extent that leaving home just isn't a viable options for our children once they're of an age to start an independent life?

At this stage in my family life that's not a particularly scary notion - I'm definitely of the opinion that I'd quite happily keep my babies at home forever.

But the latest data suggests that I should perhaps be worrying a little more about the possibility of my kids still living at home in their twenties and even later still.

This Is Money reports:

There are now 3.3million 20-34 year olds still living with parents, a 618,000 leap since 1996, the findings from the Office for National Statistics show. A fifth of 25-to-29 year olds still living with their parents, and half of those aged 20-to-24 and one in 10 aged 30-to-34 are also in the same boat.

I see little point worrying about what's still decades away in the future but at the same time I find myself wondering if I ought to be a little more money-conscious when I read headlines like this. I haven't yet managed to get a foot on a rung of the property ladder myself and I'm ok with that - there are benefits to being a renter such as not having to shell out to fix the fence when it blows down in a hurricane.

But maybe I should be less blasé about things and should be trying to squirrel away more cash for the my children's futures? Only problem is, there isn't much disposable cash to stash away for the rainy days that might lie ahead.

We'd love to hear how you feel about this data - do you worry about your child not being able to afford to leave home in the future, and does it motivate you to save towards the things that your child might not be able to afford when they reach adulthood? We'd love to hear your thoughts over on our Facebook page.

2 comments

  • halfpast5

    I am coming to 30 this year.

    I managed to move out of the house (Portsmouth) when I needed to move up North (Hull) to study. never moved back to parent's since. With minimal parental help (they barely afford where they are), a fair amount of planning and ensuring there's an income from somewhere during uni years and straight after.

    Ensuring tuition/maintenance loan is applied promptly, working a summer job post A-Levels (I was on minimal wage, low skilled work), to have a buffer amount for extra expenditure over uni years. During uni, focus on work, occasional party and budgeting well (no part time work). Repeat every summer during Uni years and balance the book as much as possible.

    Post Uni, I didn't get a job of my degree focus (BSc 2nd Honors). I immediately applied to a minimal wage job at a local factory to at least bring in some income to pay rent, bills and food whilst I continued looking. Turns out an opportunity at the factory was opened to people of my calibre 6 months into working for them, and I have since worked up in the industry, now with a decent, liveable wage in Yorkshire.

    Still can't get a foot in the property ladder yet, but both missus and I are working on that and foresee it will happen within 5 years. It's not a given right to get on a property ladder, if I don't want to, we will happily rent for the rest of my life and use the money to start a family.

    Leaving the nest isn't easy but neither is it as hard as many people make it out to be. As long as one is willing to move and find jobs, in areas that one can afford vs their work experience / qualification, the world is your oyster. Forcing to stay within walking distance to your parents when the local area is far too expensive for one starting out without a higher wage job (due to qualification / lacking experience), whilst moving few hours North (or outside of cities) where the rent is manageable, job maybe available and the standard of living is within the mean wage - then you've successfully planned it well to move out of the nest.

  • Heidi Scrimgeour EDITOR

    Hey, thanks for reading and sharing your experience. And good luck with the house-buying!

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