Multigenerational Households Save $$$

multigenerational family
multigenerational family

Maria Slawson, a Cuban-American, and her Miami-born Anglo husband, Tim, live in a multigenerational household that includes Maria's parents and the couple's two sons, ages 13 and 22. Although multigenerational households are common among many immigrant cultures, the Slawson's current living arrangement grew out of economic necessity.

The arrangement began as a way to help Maria's parents, who were near retirement age and on a fixed income. Plus, Maria and Tim, who had quit work to attend architecture school, could certainly use the financial help, as well.

"My parent's retirement income is very little," Maria Slawson told AOL Real Estate. "Together, they do not even make $19,000 a year. During the past three years, the economy has been suffering plenty -- and we suffered through those times [also]."