My family of 5 moved in with my parents. It’s saved us thousands, and not just in rent.

When we moved to the Gold Coast, Australia, in January, my folks offered us the downstairs of their house. Given the current cost-of-living pressures, we jumped at the proposal.

My parents declined our offer to pay rent, but they have let us pay for water and electricity. Luckily for us, they have solar panels, so the highest bill has only been AU$90 (about $63) for a month. The water bill has also been manageable, at about AU$150 a quarter.

Living with my parents has saved us thousands, not just in rent and power. There are other hidden cost savings to multigenerational living that people often overlook.

It’s reduced our grocery bills

When we first started living together, we decided to make a cooking roster. From Monday to Thursday, each of the four adults has a set night to cook dinner for the household.

From Friday to Sunday, we wing it. Sometimes we get takeaways and take turns choosing. Other times, one of us will cook.

Sharing the cost of groceries and food has helped cut down our grocery bills. They’ve gone from being about AU$550 a week when we were living alone as a family of five, to around AU$350 with our multi-generational living arrangement.

We have canceled some of our subscriptions

When we moved in with my folks, they already had a range of streaming services set up, so we canceled ours.

Even though they weren’t overly expensive each month, the subscriptions up. This has saved us about AU$80 a month.

Overall, there’s less waste

Mum and Dad are 77 and 81. They come from a generation who repair or repurpose broken items and is more mindful about waste.

As an example, the other day I threw out a loaf of Turkish bread that was starting to go stale. A few hours later, I discovered my mum had merrily plucked it out of the bin (it was in a wrapper), buttered it, and fed it to my 3-year-old. She ate it happily, and I realized there was a lesson in that.

Mum and Dad also recycle and reuse a lot more than we ordinarily do. Old ice-cream boxes become food storage containers. Rubber bands on letters are kept for tying up food packets.

Living with them has taught me to reduce, reuse, and recycle wherever possible.

We don’t pay for babysitters

My husband and I have been really cautious about not treating my parents as live-in babysitters. They both have health issues and get tired easily.

However, on occasion, they have babysat the kids, and it has been such a big help. Recently, my husband and I even went away for a night for the first time in two years, and my mum and dad looked after the children. It was such a treat.

We save on fuel

My folks are actively involved in the kids’ lives. Countless times, they’ve offered to shuttle kids to extra-curricular activities, whether it be a gymnastics session or an AFL (Australian Football League) game.

With the current cost of fuel, this has helped save us money.

There are fewer duplicate appliances and household items

Moving interstate, we would have had to replace a lot of our white goods and household appliances. But Mum and Dad already had a fully stocked house.

We added a few items to the mix, such as a lawnmower for Dad. But largely, there was no need to buy new things.

By pooling resources, sharing costs, and dividing household responsibilities, multigenerational living has provided us with a range of tangible savings. It’s a practical solution that’s helped us get ahead financially and have plenty of laughs along the way.