Moving Back Home After Graduation Is Not As Bad As It Seems

Graduating from college is a major accomplishment and a sure sign that you’re embarking on the  journey of  “adulthood”. With this transition, you’ll be faced with tough decisions, new responsibilities and new experiences that will mold you for years to come. A tough decision that many recent grads face is whether or not they should move back home with their parents and although many may turn their faces up at this idea, moving back home may not be that bad of an idea. 

Graduating college and returning to live with your parents may seem like a step backwards in terms of maturity but I promise you it’s not. “Moving back in with my parents saved me a ton of money,” Camille Gordon explained. Gordon is a 2016 graduate of the University of Albany. “I’m lucky enough to be from New York so once I graduated college, I moved right back home. It saves me money and I don’t have to worry about so many bills on my own. I’m able to use my money for other things,” she said.

I agree. I graduated from Hampton University in 2016 and moved back home after graduation. While many questioned my decision to move back in with my parents, I think it was a mature move on my end. By living at home, I was able to contribute more to my student loan payments and save money for when I decided to move out. I was also able to focus on other things. The transition from college to the real world can be a little challenging and living at home provides a little comfort while you try to get the hang of adulting.

If you’ve decided to move back home after graduation, there are quite a few things you can do to make the most of this time.

· Save Money: When you live at home, you generally don’t pay nearly as much rent as you would if you lived alone. If you don’t plan to live at your parents’ house for a long time, use these months (or years) to focus on saving enough money to move out comfortably. There is no fun in living on your own but struggling to pay rent and bills. It’s not worth it. Keep your eye on the prize and understand that this is just a pit stop.

· Contribute More To Your Loans: Many people are probably graduating college with a degree in one hand and student loans in the other. Student loans are nothing to brag about but there are ways to get rid of them a little faster. Living at home may provide you the opportunity to contribute more money to your student loans. Kyle Alfred, a graduate from New York University shared his loan payment tip. “I always round my payments up to the next $50 or $100. If the payment is $137, I round the payment to $150. If the payment is $183, I round it to $200. Although it doesn’t seem like much, this allows me to pay off a little more than I owe.” Alfred further explained that he feels that his decision to live at home after graduation contributed to his ability to exercise this tip.

·Invest: Experts say it’s good to begin investing your money while you’re young. While living at home, there’s a possibility that you’ll be able to invest some of your money while not breaking the bank. Take advantage of this time and research the best investing options for recent grads. There are countless ways to strategically utilize your money and research will ensure that you’re making the best decision for you.

Honestly, living at home with your parents may come with less freedom than you’re used to in college but after weighing the pros and the cons, it may be something you can overlook for the time being. As previously stated, living with your parents does not have to be a final destination. In fact, most times moving back home is a pit stop on your journey to your ultimate goal. Utilize this time to make smart and strategic decisions that will comfortably prepare you for the rest of your future.