Final exams are over for good, insanely priced textbooks are a thing of the past and graduation gowns have been tucked away. The worst is done…you’ve finally graduated college! As you’ve achieved yet another life milestone, excitement for what the future holds can undeniably be overwhelming.
As the spring semester across the U.S. comes to an end and the summer season rolls in, many college graduates are left with a rather perplexing question. What now? For those who haven’t landed a permanent job, internship, or decided to continue their education, an even more daunting question comes to mind.
Should I move back in with mom and dad?
For some, the dilemma of returning home after four or more grueling years of academic course work, runs the risk of freedom, pride, independence, and privacy. While many dread the idea of living once again under the roofs of parents, there are some surprising benefits to the peculiar situation.
Lucky for you, ThaCelebriTea is here to inform that the decision to move back home isn’t as awful as it sounds.
Regroup & Plan
For many college graduates, plans after graduation don’t exactly pan out as expected. That internship or job may not have come through as hoped. Maybe, you’ve decided that the career path you previously chose is not what you want to pursue any more. Moreover, some graduates may simply not know what they want to do next. Returning home and regrouping one self is the perfect plan for graduates in doubt of their next steps.
Believe it or not, home is where everything started and maybe a quick stint at home will draw some inspiration on how you should proceed. Having parents around may also offer the opportunity to receive guidance as elders often have valuable wisdom to share. Additionally, you have the ability to take an overdue break. Relaxing in the comfort of home and being surrounded by family and friends is a great mental space to strategically plan your next move.
Prepare For Financial Success
One of the best benefits of moving back in with your parents is the ability to save money. The opportunity of living rent free or near it doesn’t happen often and when it does arise, it’s to your complete benefit to take advantage of it. While many college graduates find themselves moving into the city of their dreams, their cash-strapped pockets take on rising housing costs and daily living expenses. However, those living at home rent free are able to stack money as the biggest expense, housing, is already taken care of. Saving money can prepare graduates financially when they do decide to make that transition into adulthood. Putting away a small amount like $200 per month as you work can go a long way!
According to Janae Poppa-Deis, a 2014 business management graduate from the University of South Florida Sarasota-Manatee, she’s making good use of her time at home after college. In the past two years, she’s crushing debt and making plans. “I moved home and have been saving to buy a home and paying off a lot of student debt, setting myself up for a successful financial future,” she said.
If applicable, six months down from graduation, the loan holder Sallie Mae may also be giving a call for payments like for Poppa-Deis. According to a Wall Street Journal, the average Class of 2016 graduate has $37,172 in student loan debt, up six percent from last year. Returning home and working may be the best option for students with massive student loan debt. If your parents are accommodating your living arrangements, it’s in your best interest to pay these debtors and even creditors off while the you have the flexibility. Getting out of debt allows graduates to focus on more important matters when they step into adulthood like securing a career or mortgage.
If you do decide to return home after college, taking the time to stabilize your life and ensure your financial success will undeniably ease your transition into adulthood. While you prepare for your future, don’t forget to spend overdue time with yourself, your family and old friends. At home, be sure to make the best out of the time spent. Every moment counts for something, whether it’s brief or long.
Tell us your thoughts in the comment section below. Is returning home after college a good idea?