Lending Club Blog

Moving Back to Your Parents’ House

Moving back in with your parents to save money is nothing new. The new twist is that some middle-aged adults are the ones making the move back home.

The phenomenon was detailed in this recent article. While these adults may not be the recent college graduates that often live with their parents to get a clean start, their reasons for the move are the same: lack of money.

With a lagging economy, softening job security, and people continuing to live beyond their means, some people are left with few other options than returning to the care of their parents. While the financial benefits of living with your parents may be great for you, it is likely putting a strain on their finances. Every dollar they spend to support you is one that they cannot spend on themselves in retirement. Many parents would never turn away a child in need, and that is understandable. In fact, it may be that poorly educating their children about money is one of the reasons why the “kids” are in financial trouble to begin with. Financial support should have its limits though, and should be temporary in nature.

Seeing this trend of middle-aged adults returning home should also serve as a reminder of the importance of saving for your retirement. People who plan to receive support from their grown children may be in big trouble. While most people would like to help their parents, or children, poor financial health makes either type of help difficult if not impossible. Helping others is admirable but should only be done if it truly helps the person in need, rather than enable their poor habits to continue.

Saturday, April 12th, 2008 at 8:50 am

Comments (0)


Welcome Home

Lending Club named #5 on Forbes’ Most Promising Companies List

Get ready for tax season with Lending Club’s Tax Form Guide

New Adjusted Return Metric

See more
Lending Club Awards
  • Archives z

Recent Posts

More Data Coming for Investors

We’re always seeking feedback and looking to make the… Read More »
November 10, 2015

Lending Club Surpasses $13 Billion

Check out our updated infographic to see what a… Read More »
October 29, 2015

Lending Club Launches Multi-Draw Line of Credit for Small Businesses

We’re excited to announce the… Read More »
October 16, 2015

Bloomberg Markets Names Renaud Laplanche on its 2015 “Most Influential” List

Read More »
October 6, 2015

Congratulations, Carrie! Named 2015 Financial Woman of the Year by The Financial Women of San Francisco

Read More »
October 5, 2015

Congratulations to Carrie Dolan – Named one of American Banker’s 2015 Most Powerful Women in Finance

Read More »
September 22, 2015

Welcome Nebraska, Kansas, and Indiana Investors!

We recently welcomed residents of Nebraska, Kansas, and Indiana… Read More »
September 21, 2015

Lending Club Job Spotlight: Technology & Member Support

Our Technology team develops and… Read More »
September 14, 2015

What $11 Billion Can Do

In celebration of surpassing $11 billion in loans and… Read More »
September 3, 2015

Welcome Arkansas, Iowa, and Oklahoma Investors!

We recently welcomed residents of Arkansas, Iowa, and Oklahoma… Read More »
July 14, 2015


We went public today!

Ringing the bell this morning at the New York… Read More »
December 11, 2014

New and Improved Statistics Page

We recently redesigned our Loan Statistics page to make… Read More »
November 13, 2014

Lending Club Honored with Economist Innovation Award

This month I was honored… Read More »
October 15, 2014

Welcome Vermont Investors!

Today, we’re thrilled to welcome residents of the state… Read More »
September 4, 2014

We filed to go public today

We filed a registration statement with the SEC today… Read More »
August 27, 2014

Our Billion Dollar Quarter

We’re excited to announce  that we’ve facilitated over $5… Read More »
July 8, 2014

Is Lending Club Available in My State?

Is Lending Club available in my state? That is… Read More »
July 7, 2014

Lending Club Joins Senator Cory Booker to Discuss Improving Access to Capital for Small Businesses

Read More »
June 20, 2014

Lending Club Named a CNBC Top 50 Disruptor for a Second Year

For the second year in… Read More »
June 17, 2014

PRIME is now Automated Investing

Lending Club is excited to announce that PRIME has… Read More »
May 14, 2014
View All w