The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Information on this website may not be current. This website may contain links to other third-party websites. Such links are only for the convenience of the reader, user or browser; we do not recommend or endorse the contents of any third-party sites. Readers of this website should contact their attorney, accountant or credit counselor to obtain advice with respect to their particular situation. No reader, user, or browser of this site should act or not act on the basis of information on this site. Always seek personal legal, financial or credit advice for your relevant jurisdiction. Only your individual attorney or advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, contributors, contributing firms, or their respective employers.
Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them. Compensation is not a factor in the substantive evaluation of any product.
With crippling student loan payments and a bleak (yet improving!) job market, the boomerang effect is stronger than ever. In fact, a Pew Research Center study reveals that 36% of young adults between age 18 and 31 in the United States moved back home to live with their parents in 2012. That’s the highest percentage in at least 40 years. While few young adults look forward to moving back with their parents or guardians after the independence of college, there are several ways to make the most out of moving back home.
Returning to your parents’ house can be difficult since you were likely a child last time you lived there. Since you want to be treated like an adult, it’s important to act like one. Some ways to do that can be to do your own laundry, cook your own meals (or even meals for the whole family), clean up around the house and realize that your parents have their own plans and life without you. Show your parents you are not the high school student who last lived with them.
Whether it’s paying a small amount of rent, buying groceries, cleaning, helping with computers or doing fix-it projects around the house, it’s a good idea to find ways that you can contribute.
You probably don’t want to live with your parents forever, and one way to make sure you don’t is by creating a deadline. Before you make your way back home, try setting up a long-term plan that includes a time limit for yourself, whether it is one month or one year. This will help your parents prepare accordingly (financially, emotionally and personally) and help motivate you to work harder to reach the goal of moving out on your own.
It’s important to make sure you and your parents have reasonable expectations about your living situation. This includes when it comes to privacy, shared space and even visitors. It can be a good idea to address these issues early on — about sleeping hours, overnight guests, which meals or activities will be done together, and what time will be devoted to personal projects.
While the job market might be tough or life on your own is too much for you right away, show your parents that you are doing everything you can to get on your feet. This may mean taking a job that doesn’t exactly match your degree, picking up a side hustle or even just trying out more adult responsibilities.
Just because you are living back home doesn’t mean you need to put your life on pause. Continue to hang out with friends, date, explore new things and do your best to stay happy. It’s important to keep support networks aside from your parents so you don’t start to feel isolated.
Last but certainly not least, remember that your parents are doing you a favor. Say thank you for all they do for you and be considerate because no matter how old you are, you are still their child.
It may seem unthinkable after your college years, but you can enjoy yourself while moving back in with your parents. Follow these tips, adjust your attitude, maintain some independence and save up as much as you can while getting closer to living on your own again.
Image: Photodisc
March 11, 2021
Personal Finance
March 1, 2021
Personal Finance
February 18, 2021
Personal Finance