Once the bags are packed, the diplomas are handed out, and photo ops are long over, most grads expect to move out on their own. But for many college seniors, that's simply not an option.
According to the 2006 MonsterTrak survey, 48 percent of all students will find themselves knocking on their family's door come graduation. Additionally, 44 percent of last year's graduates are still living with their parents. After all, with astronomical tuition costs, credit card debt, and high cost of housing in major metropolitan areas, what's a newly minted college graduate to do?
"While some boomerangers manage to avoid the pitfalls of moving back home again, many don't adequately prepare themselves for the practical, economic, and emotional realities of moving back in with Mom and Dad," says Elina Furman, author of Boomerang Nation: How to Survive Living with your Parents the Second Time Around (Fireside, May 10, 2005; $ 14.00) and a former boomeranger herself. "My goal is to help grads realize than not only can they go home again, they can survive and thrive there."
There are a myriad of challenges to deal with, including navigating tense family dynamics, managing finances, dealing with privacy issues, and dating. Furman offers these 5 tips:
1. SET A MOVE-OUT DEADLINE: Before you move in, make sure to set a departure date. Otherwise, parents will be become frustrated and graduates may become unmotivated to move out on their own.
2. DON'T LET THEM BABY YOU: Some parents ("perma-parents") don't want their kids to grow up. If your parents try to baby you, show them you're an adult by taking on household responsibilities like fixing the computer or cooking dinner.
3. DON'T PUT YOUR LIFE ON HOLD: For boomerangers: make an effort to get involved in local activities and meet new singles in your area while living at home. Parents: carry on with your day-to-day activities as you normally would or risk resentment setting in.
4. HAVE A GOAL: Saving for a down payment on a house, starting a business, finding a job, eliminating debt - these are all good reasons to move back home. Parents and kids should discuss these goals and work together to make them a reality.
5. PAY RENT!: Whether the boomeranger pays $ 50 or $ 300 a month, it's important that they contribute to the household. If parents feel guilty accepting cash, invest the funds and present the money as a gift once the kids are ready to move out.
About the Author: A nationally-known author, speaker, and media personality, Elina Furman has written over 20 books, including Boomerang Nation: How to Survive Living with Your Parents the Second Time Around (Fireside, May 2005), The Everything After College Book, and Generation, Inc.: The 100 Best Businesses for Young Entrepreneurs.
Furman has been interviewed on television and radio from coast to coast, including The Today Show, Good Morning America, CNBC, and Geraldo at Large. She has been frequently quoted in newspapers and magazines, such as The Washington Post, Money, Cosmopolitan, The New York Times, WSJ, and Newsweek. Furman lives in New York City. For more information, visit the website at http://www.boomerangnation.com.
** If you wish to reproduce a photograph of the author and/or the book jacket or cover, you can retrieve a high-resolution digital file at http://resources.simonsays.com
Contact Name: Kimberly Brissenden
Contact Phone: (212) 698-7643
Contact Fax: (212) 698-7695
Web Address: http://www.boomerangnation.com
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