Graduation from college opens all sorts of doors, but the prospect of moving back home is something many graduates must face. A tight economy and a crowded job market sometimes equal a call to a moving company and a trip back home until you can find a job or internship.
However, heading back to your hometown to live with the “rents” after graduation isn’t something that’s completely terrible. In fact, there are actually a few benefits to moving back in with your parents for a while after college.
As a new graduate, you might not have a lot of money in the bank, particularly before you’ve scored a job and had some time to put money away in a savings account. There’s a good chance you already drained your savings to help fund college.
Using professional movers to move back in with your parents helps you save money each month on rent. You can put money into an emergency fund and save enough money for a deposit on an apartment.
Even if your parents ask you to pitch in with a small amount of rent each month, it’s probably not going to be nearly as high as if you were on your own. Also, if you borrowed money for college, you’ll have time to save up for those payments when they enter repayment six months after graduation.
While you might have to contend with a curfew or quiet evenings at home, living at home for a short time after graduation offers many financial benefits in exchange for rather modest concessions. Sure, you might have to tell your mom where you’re going on a Friday night, but you’re also saving a cool grand (or more!) on rent each month.
Here are a few potential pitfalls you’ll want to avoid after the house movers have dropped your possessions off at your home.
It’s easy to fall into the ease and inexpensive option of living at home. However, it’s a good idea to make a plan for when you’ll move back out of your parents’ home. Choose a goal date for moving out, and refine that date during your job hunt.
If it takes you a little longer than you anticipated to find a job, that’s okay! Just don’t lose sight of the bigger goal of moving out into your own place.
Figure out how much money you’ll need to set yourself up at another apartment from hiring the movers in San Antonio to paying for the deposit and first month’s rent. Make a list of everything you’ll need to pay each month and conduct your job hunt with that list in mind.
Tip:Â Take this time to tap your parents for their knowledge of budgeting. They’ve been budgeting for family life for decades, and their wisdom on starting out is invaluable.
If you don’t already have a job lined up, it’s important to look for a job each day. Treat the job hunt as if the activity was your job, and send in resumes or push for interviews each day. Don’t assume a job will fall into your lap. Make the most of your time at home by dedicating each day to finding a job worthy of your diploma.
If you’re coming from a dorm room or an apartment on campus, it shouldn’t take the local movers too much time to transport your belongings back home, and the same might be said for when you move out again. It’ll be easy and exciting to make a fresh start with some savings in the bank as you leave home for a second time.