I moved back in with my parents at 25. I'm saving $3,000 a month and paid off my student loans in 1 year.

"The average salary in the New York Metropolitan area is around $84,500 a year, but to live comfortably, you should make $136,500, if you follow the 50/30/20 budget rule, where 50% is spent on needs, 30% on wants, and 20% for savings. If you're someone between these salaries, you likely live with roommates and spend most of your income on daily expenses."

"My parents cut me a deal: if I could save up $50, my dad would match it. I could have her. However, he explained to me that if I spent $50 on an American Girl doll, I wouldn't have that money to spend on something else I might want more. This lesson stuck with me - if I could save and spend my money wisely, I could afford my needs and wants."

"By 18, I had successfully saved up $12,000 before starting college. When I graduated at 22, I had saved up $35,000 to get me through grad school in London. In 2024, with a master's degree and $18,000 of debt, I was back in my childhood room and couldn't wait to bring my apartment vision board to life."

Isabella Szklany moved back in with her parents at 25 to save money instead of renting an apartment. Living at home saves her $3,000 a month, which she deposits into a high-yield savings account to address student loans and future goals. The New York metro average salary is around $84,500, but a comfortable lifestyle requires about $136,500 following a 50/30/20 rule. People between those salaries often live with roommates and struggle to both pay debt and save. Szklany learned saving early, earning money as a teen and accumulating substantial savings before and during college and grad school. She carried $18,000 in student debt upon returning home but prioritized aggressive saving.

Read at Business Insider