There are actually many reasons why you should move home after college. Maybe you want to live on your own, but sometimes the transition from college to independent living isn’t an easy one. So before moving out of your parents’ home, check out some reasons to move home after college graduation.
1. Take a post-graduate course
Do you want to continue your education? I’m not sure that you can handle a full-time job and school, and moving home after college graduation can help you meet your educational goals. You can find part-time job and finish your schooling.
2. Find a good job
This is another reason to move back home after college graduation. When you want to get out on your own, you are more likely to settle for any job that comes along. Don’t rush your job search, move home and take your time and you will find a job that is really suitable to your background and skills. It can be difficult to find a good job, but don’t be desperate, you will certainly find it!
3. Help your parents
Your parents might have been affected by current economy situation and they need some financial help. So you can move back home for a while and pay rent. The money might go toward your parents’ mortgage and some other household costs. Or you can buy foods and pay bills in order to help your parents.
4. Pay down your debt
Your parents might not be able to pay your tuition and you had to take out some loans. Move back home and you’ll be able to pay off your debts. Even if you cannot completely pay them down, knocking off your balances will help you start living on your own faster.
5. Raise your credit score
You might have had a great time with your credit card in college and now you may have a low credit score and a credit card debt. Instead of jumping into costly living expenses, move back home and pay off your credit card debt and improve your credit score.
6. Save for a down payment on a house
It’s extremely difficult to build up a cash cushion for emergencies and save money for a down payment on a house, when you live on your own. If you move back home after college graduation, you can reduce your monthly expenses. Buying a house requires at least a 5% down payment, so save money after college graduation and you can reach this goal sooner.
7. Learn how to manage your money
Perhaps you didn’t have lots of expenses while you study. Living temporarily at home can teach you how to manage and budget your money. Taking on a household bill every month or paying rent to your parents can help you prepare for life on your own.
In the current economy situation, about 85% of college graduates move back home after school. Don’t view moving home as a step backwards, and focus only on the advantages. Do you think it’s a bad or good idea to move back home after college graduation? Share your thoughts, please!