What Moving Back Home Means for my Budget

This weekend I am leaving the big city behind to move back with my parents.I made this decision because it just made sense to me at this point in my life. I’m half way thorough my professional courses, my bf and I are not ready to move in, and I want to change jobs- so starting a new lease didn’t seem like the best choice. I know that a lot can change in a short time, so I am keeping my options open but looking ahead to this change.

Obviously, the best part about moving back with mom and dad- and the cat; is not having to pay rent. Instead of looking at it as freed up money I am going to commit my rent amount to my SLC each month. This is a great opportunity to advance in my debt repayment.

A few other changes I have noted:

– I will start paying my own cellphone bill (I think this officially means I am an adult-lol)

– Grocery spending will go down (not that I shopped that much before)

– Transit can either increase or decrease. Tokens are given at $108/month but it will depend on how much I’ll be taking the GO train home.

– I will increase my savings to $200/ month.

– Since I am on the spending diet, I will continue to keep my spending as low as possible, and stay within the $100 misc budget.

Have you ever had to move back in with your parents? How was that experience for you? Any tips?

-R.

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