Today's different generations are getting cozier when it comes to sharing living space.
But before you sign on to the growing trend of living in a multi-generational household, financial advisors say, you should give money matters as much scrutiny as you would a household chore chart.
"The key to making these household structures work is to make sure no one rides for free," said certified financial planner Hank Mulvihill, principal of Mulvihill Asset Management. "And the more that the reality of all things financial is discussed, the healthier the relationships in the home will be."
According to a 2014 study by the Pew Research Center, 57 million Americans — 18 percent of the U.S. population — lived in multi-generational households in 2012, double the number in 1980. Pew defines such households as those with at least two adults (at least 25 years old) from different generations, or grandparents and grandkids (no parent).