The Truth About Moving Back Home After College

Moving Back Home

So you finished college and you are left with a huge decision to make. Do you bit the bullet and move back home with your parents or go it alone in the “real world”? This is one of the hardest questions for a majority of millennials finishing college. For myself, it was a no-brainer to move back home. My parents were willing to support me for a few more month and let me tell you it was one of the best decisions I have ever made!

 

Temporary Sacrifice for Future Gains:

We all know moving back home with your parents is not the most glamorous thing in the world. Reverting back to following their rules and having a chore list to complete was not an easy transition.

The biggest words of advice I can give you is to remember it will be temporary. Most things in life take time and sacrifice to reap the rewards. Be patient. The financial gain you can make while living at home is second to none, trust me!

I was able to not only pay off my student loans (-$8,000), but save enough money for a down payment on our first house. My expenses were next to non-living at home. You can’t beat free room and board! Almost all my income went straight towards my loans to get debt free as quick as possible. Then I was stacking the Benjamin’s in the bank. My net worth went from (-$8,000) to +$12,000 a $20,000 swing!

 

Finish reading our guest post on Millennial Money Man!

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[…] thirty it’s a problem. Your 20s are a great time to venture out on your own. After college moving back home with your parents might be a very savvy decision to get your finances in order. Eventually, when […]

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