Nearly a quarter of millennials (22%) are living with their parents, and more than half of those living with them (55%) made the move in 2022, according to a December survey from

Many people say they are returning home because of high rent, money worries or job losses. 9 out 10 respondents said that they would move away if they had more money.

Mariana Martinez, senior family dynamics consultant and vice-president for Wells Fargo Wealth and Investment Management, says that it can be frustrating for parents and young adults to be in a more dependent situation than their age. It is important to remember that their current circumstances were caused by extraordinary circumstances.

These steps will help you get back on your feet.

1. Clarify what you want

Angela Moore, a coach and financial literacy educator with Modern Money Education, says, “I ask all my clients, what are your goals, and what are you trying accomplish?” “And most people don’t know. They are trying to do it .”

Write down your goals. Are you looking to buy an apartment? Do you want to buy a house? Are you looking to move around? Are you looking for a higher-paying job?

Moore says that writing down your goals forces you to think about them and make a plan for what you want to accomplish.

2. Plan your spending.

You can use any tool you want, an app, a spreadsheet, or whatever else. To create a budget. What is your savings and what are your debts? What are your monthly costs? What should you do to achieve your goals?

Moore advises that you determine what you need and how much money you will need to make the necessary changes.

You can use your circumstances to your advantage, but it doesn’t have to mean endless shopping sprees.

Kyle Newell, a financial advisor in Winter Garden, Florida, says, “I have a customer who is in that situation and the allure of still living ‘the successful lifestyle’ is strong.” “Saying no or finding alternative ways to have fun is key.”

Saving is important. Automate the process by having money automatically transferred to savings every payday. You will need to be aggressive if you want to move on to the next stage.

3. Make an emergency fund

Save up three to twelve months’ worth of living expenses before you take off. Start with one month, and work your way up to three. Although it may seem like a lot, this is a vital safety net.

“Most people are in this position because they don’t have a Emergency Fund,” Moore states. Moore says that it is important to have this fund in case of financial emergencies. You need it so that you can pay your mortgage and rent and you can live .”

4. If you have the opportunity, brainstorm ways to increase your income.

Money is a problem. You’ll need to ask for a raise, look for a new job, or start a side business.

Are you unsure where to begin? A financial coach could be a great investment. Many specialize in creating financial strategies and job-related advice. You can also check out local non-profits if you are not in a place to hire. For example, the Financial Empowerment Center offers free financial counseling with more than 20 partner locations throughout the country.

5. Look at other housing options

It can be difficult to find affordable housing in some cities due to high rents and a highly competitive market. To make it more manageable to rent an apartment or house, you might need to look beyond the luxurious condo and consider renting a roommate.

Dennis Nolte is a certified financial planner from Winter Park, Florida. “We are seeing more people that are partnering with the same-age people,” he said. “My 26-year old stepson moved back to central Florida. He has four roommates from his church. They are all his age and all have jobs span>

You may be able to relocate to a cheaper location because of the boom in remote work.

Nolte recalled a friend telling him that Orlando was too expensive and she was moving to Denver. He says, “I was shocked by that.” It makes sense.

6. Communicate

Even if your parents are the best, it might not be the ideal situation for you to move back in with them. It can be stressful and it is important to keep them informed about your goals and progress.

Martinez states that it is extremely important to maintain open and honest communication between both parties. Transparency is key to reducing frustration, Martinez says. It is because you know that the person is trying their best to improve the situation.

This article was written and published originally by The Associated Press by NerdWallet.