The realities of shared living

With the cost‑of‑living squeeze more and more people of all ages are having to live with friends, parents or people they previously didn’t know.

According to recent research by the Nationwide, people in Britain say 29 is the “embarrassing” age for house sharing – yet one in 10 (11 per cent) is still sharing.

With over two-thirds (69 per cent) saying living alone is unaffordable, many are forming “rally house holds” to get creative, pool resources and split costs, pushing shared living up to an average age of 35.

Whether it’s moving back to the family home or even living with an ex, one in 10 say these arrangements have helped them save money.

However, they’re not always by choice, and don’t come without challenges.

*Nearly half confess that the situations have had a negative impact on their relationships and personal lives.

*Some 15 per cent have experienced stress and anxiety

*14 per cent have felt “stuck”

*Eight per cent have reported tension among housemates

*Around seven per cent have delayed major life decisions

As a result, a huge 27 million Brits admit they’ve felt embarrassed about their living situation, with a multitude of situations to blame.

Florrie, 26, said: “I have been living and working in London for five years, but have never been able to save a penny.

“I would be counting the pennies before payday came around, and feeling like the tight friend when making plans to go out.

“As a result, I’ve just moved in with my boyfriend and his parents in his family home in Surrey, and am now commuting into the city.

“We’re hoping this will help us save for a house or to go travelling.”

Vicky said: “I currently live in an owned property with my husband and four children. Of these children, three are over 18 and financially independent.

“My son moved out three years ago, but his relationship broke down, so he has moved back in with us.

“The older children are unable to afford to move out or buy a house, which has made our living situation quite challenging.

“Since my son moved back, it’s been a struggle because we only have a three-bedroom house.

“One of my daughters has to stay at her boyfriend’s house because there aren’t enough rooms or beds for everyone, especially since her brother shares a room with his sister.

“I have felt embarrassed about our living situation, particularly with four children in a three-bedroom house. It’s not ideal, but we have no choice given our circumstances.

“The financial strain is a constant concern and affects my overall well-being.”

Richard Stocker, head of savings at Nationwide said: “Whether it’s saving for a first home, getting on the housing ladder or moving out for the first time it’s important to start with achievable savings goals.

“Make the most of your ISA allowance and use a good budgeting app like Nationwide’s Budget Builder – they can do the heavy lifting.

“With the right tools, getting on top of your money feels far more doable.”