Moving BACK in with my Parents to Pay Off $90K DEBT at 24 | frugality & finance

I moved back in with my parents to pay off my $90k debt. Watch to learn more about my moving experience in December 2020. Should you live with your parents to save money? Have you moved back in with your parents to pay off debt?
🐽 LIKE & SUBSCRIBE for more related frugality & finance content
📱 insta: @frugalityandfinance - frugalityandfinance
🥟 buy me a dumpling - buymeacoffee.com/siuyee
........................................................................................................................
Free Financial Freedom Template - • Free Google Sheets Fin...
CARES Act & Forbearance - • CARES ACT EMPLOYER LOA...
Check Your Student Loan Refi Rates - • CHECK YOUR STUDENT LOA...
My $146,000 of debt - www.youtube.co....
........................................................................................................................
💰 EARN
Earn $200 when you refi with Earnest - www.earnest.co...
........................................................................................................................
Song: MBB - Fresh (Vlog No Copyright Music)
Music provided by Vlog No Copyright Music.
Video Link: • MBB - Fresh (Vlog No C...
........................................................................................................................
#moving #movinginwithparents #livingwithparents #payoffdebt #frugalliving #uhaulmoving #movingoutofstate #movingbackhome #whyimovedbackinwithmyparents #whyilivewithmyparents #personalfinance #millennialmoney #movinginwithmyparentsagaintopayoffdebt #payoffdebt
⚠️ DISCLAIMERS
I am not a financial or tax professional. All content is made for entertainment purposes based on my own experiences and personal research into the topic. If you choose to use any information you learn from this video, it is to be used at your own risk and I am not to be held liable for the consequences of your choice or actions.
I believe any reactions to copyrighted content falls under Fair Use. If original content owners would like to dispute this, request that the content be removed, or request credit for the content, please contact me at [e-mail]

[@siu-yee]

Have you ever lived with your parents to pay off debt?

[@siu-yee]

Thank you so much, this is so sweet and and important point for others in a similar situation!

[@tupa24]

Good for you, girl! But yes, I lived with my parents (who are also immigrants) after I graduated from undergrad & lived with them while I was in grad school. I graduated in May 2020, I paid off my debt, and I’m moving out next month at 26. I have no regrets and it feels amazing having no debt!! I’m also super grateful because I know not many people have this opportunity or relationships with their parents.

[@siu-yee]

That’s amazing, you’re so ahead of the game now that you’re debt free! I’m definitely taking advantage of living with my parents while I can

[@MBB-LLC]

i moved back with my parents at 30! it's great and i found a job in the same city

[@siu-yee]

That’s pretty cool!

[@666yaoz]

I lived with my parents throughout college for my bachelor's and Master's. It was great, saved a lot of money and graduated with positive networth of $30k+. Really happy I moved out for my first real job, though. I now live with a roommate to save money, but I like my freedom and being at home was too hectic with 3 other younger siblings.

[@siu-yee]

That’s amazing! I’m lucky I’m an only child in this case 😂

[@EmilyDowgialo]

Moving in with your parents is such a great idea financially! I lived with my parents for half of college and after college and it was so helpful for me to get on my feet financially. Excited to see your debt payoff journey!!

[@siu-yee]

That was such a smart move! I’m excited to keep sharing it 🤍

[@ligbzd837]

The smartest people do what is right for themselves and their families. Only stupid people do things based on what "other" people will say or think. You are smart! You go girl!

[@siu-yee]

Thank you so much!

[@ligbzd837]

@@siu-yee When you have money in your bank. You'll be smiling! Other people who live on their own will have to live from pay check to pay check. They will be stressed out. But meanwhile, when you are smart with your money, you will have savings! You can travel the world or even buy your own house someday! Best of luck to you!

[@siu-yee]

Travel is definitely my priority now!

[@katythebeauty330]

I’m 23 and recently graduated from college and I feel the pressure of moving out and living on my own. To be honest I like living with my parents for now and I’m saving alot of money. I’m going to work on paying off debt and having a good structure of money first before I move and live on my own. Great video! Society puts pressure on what’s acceptable in everyone’s life but we have to do what’s best for us 😊

[@siu-yee]

That’s honestly such a mature decision you’re making and I wish I had made that same decision when I graduated, I’d have a much higher net worth at this point. Glad to see you’re ahead of the game!

[@FutureRideshareMillionaire]

That's a crazy commute. Make sure you take care of your car so it can take care of you but it's good that you're working from home. It's dope that you have a good relationship with your parents.

[@siu-yee]

Definitely! Already budgeting for maintenance 😅

[@tbjr1127]

I’m doing this at 35 after a divorce. I’ll pay off a good chunk of debt over the next year but not all of it. At my age I don’t want to do this for more than a year. But you did a smart thing and you changed your financial future for the better. I’m interested in an update!

[@siu-yee]

I’m sorry you had to go through that. Good luck with getting back on track this year, it sounds like you’ve already made some smart decisions too.

[@Lifewithms.m]

This is such a smart move and you’ll be able to tackle your debt so much faster! If parents are willing to help their children get ahead in life, take advantage of it!

[@siu-yee]

Yess so thankful for them 💗

[@GenZFinance]

first off siu-yee: your hair looks AMAZING in this video! for real it's so dark and beautiful. we stan! also, im a big fan of living with parents if you have a good relationship with them and they are down for it! even if they charge some type of rent, as long as it's below market-value or helps you save cost some other way, it can speed up financial security so MUCH! it's been game changing for me personally! also im a big fan of hiring movers too! whenever I have to move in and out (hello college dorms), I always end up crying bc I get so frustrated and tired!

[@siu-yee]

oh my god this is so nice, thank you! I'm definitely happy my parents are letting me do this / are so supportive. Trust me, I definitely cried at some point, even with movers, can't imagine having to move the furniture myself on top of that 😂

[@ethanhouser415]

This is something I did at 27 that I should have done at 24. Good job!

[@siu-yee]

Thank you!

[@sierraennis7617]

I just found this video as I’m considering moving back home to save extra money to pay off my debt faster. I’m 26 and have $232k in debt… I’ve been able to save $90k on my own with my current situation but moving home would definitely help me save faster. I need to make my decision by the end of the week before my lease renewal expires. Ugh I don’t know what to do I’m always so hesitant to make these huge decisions.

[@siu-yee]

Wow, that’s exciting! It’s so amazing that you’ve saved up that much money already. If you could contribute that to moving costs / debt pay down, it would probably help speed things up. Moving is definitely a big decision, especially moving back home. In my case, it was the best decision I could have made for myself and my financial journey. If moving home would provide financial relief AND a safe space for you, it sounds like it might a good idea. You can always move back if it doesn’t work out.

[@kimgraham1150]

Good for you! Paying down that debt is going to be such a relief. Enjoy the time back at home with your family...soak it in.

[@siu-yee]

Thank you! I’m definitely trying to 😊

[@plamenaivanova9897]

just found your channel!! love your frugality it's exactly where I am at in my life

[@siu-yee]

I’m glad it’s helpful!

[@TrishLee]

That is a really nice idea and a great move by you! Keep it up girl, you will definitely pay it all! You are doing good! Thanks for sharing this with us! :)

[@siu-yee]

Thank you so much!!

[@JulietChung]

"Sheltering in place is not new to me" LOLOL, same. But on another note, this is a crazy commitment especially with the commute but I'm so proud of you. Can't wait to see your progress on your debt-free journey :)

[@siu-yee]

😂 i love a supportive best friend

[@BusinessBasics]

Many millennials (including myself) live at home for financially stable reasons and to build up net worth. You're not alone in this 😀 Your channel is doing great keep posting!

[@siu-yee]

Haha thank you business guru!!

[@stephaniegray6712]

Such a good idea! Definitely relate to the Amazon tip especially when my parents moved out of our old house too.

[@siu-yee]

Yup! I learned from experience 😂

hey girl! new to your channel :) i will be graduating college soon and starting a real world job, so I will def be using your finance tips!! love your energy and excited to follow along!!

[@siu-yee]

Thank you you so much!! Feel free to watch my other videos for tips ❤

@@siu-yee Absolutely :)

[@unorthodoxsavings9552]

Nothing wrong with that ! Smart to take advantage to pull yourself ahead financially

[@siu-yee]

Yes, I’m happy with my decision to move!!

[@AresHeroSC]

Evermore Top 3 1) Long Story Short 2) Gold Rush 3) Champagne Problems

[@siu-yee]

TASTE

[@GenZFinance]

seconding @siu-yee : TASTE!

[@AresHeroSC]

Nice gray filter at 3:22! Any concerns about gas and car maintenance costs due to driving so much?

[@siu-yee]

Thanks! Yup, I’ve definitely had to start budgeting more for maintenance 😅

[@katythebeauty330]

Subscribed after I read the title!

[@siu-yee]

Thanks so much!!

[@lornasalvatore182]

I know this was an old video, but I just wanted to say thank you. I'm considering moving back in with my mum to get rid of my debt, hopefully only for 5-6 months max. My relationship with my Mum has always been toxic so I'm trying to make sure this would still be the best move.

[@siu-yee]

🥹 thank you for the kind words. I’m sorry that it’s not the best situation. Finances are important, but so is your mental health. 6 months isn’t terrible, but you are the judge of that. I hope you make great strides on your debt during those months! This is a very disciplined decision you’re making.

[@lornasalvatore182]

@@siu-yee thank you so much. I know I can go hard and get sorted and be free. So I know it has to be done.

[@GenZFinance]

also, re: evermore! I don't have a clear favorite yet! but these are the standouts (imo, no particular order): champagne problems, gold rush, tis the damn season, tolerate it, no body no crime, happiness, cowboy like me, long story short. that is like the A-Team of the album. B-Team (songs I still really like!): willow, dorothea, marjorie. C-Team (still "ehh" for me): closure , coney island, ivy, evermore (evermore imo is ruined by bon iver singing in that high voice. its so jaring to me I dont get it).

[@siu-yee]

UGH I LOVE THIS, my favorites keep evolving. My A-Team is currently: gold rush, 'tis the damn season, long story short, champagne problems, and tolerate it. I completely agree w the bon iver thing - it's the complete opposite effect of his voice on exile

[@chopsuey061987]

Does your job take any deductions for your health insurance or pension. I'm not sure how that works in the States.

[@siu-yee]

Great question! My health and dental insurance premium payments are actually paid with pre-tax dollars, so I wouldn’t be able to get a deduction on something that is already tax-free. I don’t not have a pension, but I can contribute to retirement savings tax-free if I do a traditional 401(k). If I do a Roth 401(k) that money would already be taxed and the growth from that amount will not need to be taxed when I take it out for retirement.

[@jon6309]

Always been debt free and that’s because I never left the nest 😂

[@siu-yee]

that's awesome honestly

[@LanaOkeaness]

Ha! Moving back with immigrant parents to pay off debt! Exactly what I did this weekend 😅🙌

[@siu-yee]

Yay! Congrats on making a tough decision, it’ll be worth it!!

[@LanaOkeaness]

@@siu-yee I hope so! And I see you lived in PA too! What a coincidence! 🤔

[@siu-yee]

Lol we’re really on the same boat

[@AbrahamMilan-kj6yo]

I have been out of my parents house for a month and already want to move back in . I feel financially insecure and want to pay off my car with only $9k left and then save up for a house and get financially secure . I’m 24 and looking for a girlfriend but right now I feel mentally drained

[@siu-yee]

Definitely weigh your options and decide what's best for you. It seems like you were intent on moving out for a reason, so why not give it a shot? See where else you can save money.

[@amycha4468]

will forever be happy, free, confused and lonely in the best way ;)

[@siu-yee]

Taylor really just outlines our lives

[@justfree6213]

Some don’t have parents to have that option. You guys are spoiled.

[@jayhouse_comics]

Currently about to move with my wife and son to my In Laws for a Year to save money and pay off debt.

[@siu-yee]

Wow good luck! I’m sure it wasn’t an easy decision, but I’m glad you’ll be able to meet your financial goals

[@drewtrulock333]

Dont feel bad i had to move back in with mine too luckily i have a shed in the backyard but its still weird. We shouldnt feel bad tho you know back in the day families held values and morality it would've been normal back then nowdays its looked down upon only because of a sick society.

[@siu-yee]

Thank you for your encouraging words! Honestly it's pretty common in my culture to keep living with you parents, so it's all good

[@marialombardi8912]

It’s smart move. to have move. You will save a lot more! It’s just temporary! Pay off your loans fist!

[@siu-yee]

Yes, I’m glad I made this decision!

[@JulietChung]

I will never forget those spiders....

[@siu-yee]

RIP darla

[@rociovera8695]

Bendecida y agradecida de tener a mi bebé conmigo.

[@siu-yee]

Gracias mami

[@SongBillong]

$90K debt at 24?! This world is fucked

[@siu-yee]

But $0 at 25! I’m now 26. :)

[@SongBillong]

@@siu-yee Bloody impressive; good on you! I'm 29 with only £6K in debt, but it's such slow progress paying it back. I need to get on with my life debt free, so I think I might live with my parents for six months or so, even though they drive me insane. I should count myself lucky that I have that option, I suppose!

[@loganwolfley]

What do you plan on doing once you are debt free? Do you think you will work towards FIRE at that point?

[@siu-yee]

Hi! I might or I might save up for a house! I need to immerse myself in the FIRE movement more to be motivated by it?

[@loganwolfley]

Well congrats on the progress you've made this far! Yep can't go wrong with a house. I bought my first house at 24 and unknowingly fell into the fire movement. About 85% of the way to FI. Keep up the great content!

[@siu-yee]

That’s amazing!!

[@Masterbaiter1000]

Rip

[@snippetsofpam184]

MOVERS=BAE LMAOO