Boomerang Generation
Moving Back Home? You're Not Alone

If you're working toward your college diploma or have already graduated, you probably imagine a job offer and your own apartment aren't too far behind. But more and more these days, grads are throwing their caps in the air – and moving back in with mom and dad instead of striking out on their own.

According to a recent CollegeGrad.com poll, 77% of college graduate job seekers moved back home in 2008. This is up from 73% in 2007 and 67% in 2006. One reason? The recession.

graduating with more than a diploma
The average student graduates with around $25,000 in student loan debt.* Add credit card bills, car payments, and cell phone bills, and it's no wonder that many recent college grads are looking for a break. And with more competition in the job market due to the current economic climate, 20-somethings are finding it hard to get by.

If you're faced with the decision to move home, consider this:

• Free up extra cash. What you don't spend on rent can be saved for a down payment on a home, or put toward paying off debt.
• Think of it as temporary. Plan the arrangement with your parents and agree on a move-out date.
• Look on the bright side. Living at home as an adult will give you the chance to be closer to your family.

don't wear out your welcome
Moving back home can be tough for both you and your parents. Try your best to avoid tension by working together to establish some ground rules. If your parents do not charge rent, you may need to help with some household chores. And parents naturally worry about your whereabouts, so it's considerate to let them know when they can expect you home when you leave. If you have a job, offering to pay your parents for room and board may earn you points and give you more freedom.

rely on us
Your parents may help you get off on the right financial foot, and so can DCU. Check out dcu.org for all of the services at your disposal.

* Source: collegerecruiter.com.