Here are some key facts from The Pew Research Center on the “Boomerang Generation.”
- 48% of boomerang kids said they have paid rent to their parents.
- 89% say they have helped with household expenses.
- It is a split: About 25% say the living arrangement has been bad for their relationship with their parents while 24% say it’s been good. The rest said it didn’t make a difference.
The economy has been rough for Generation Y, with a recent survey stating that 44% of the jobless 18 to 34 year-olds live with their parents. There is nothing wrong with moving back in with mom and dad; it’s a great way to get a financial foundation in place for the years ahead.
When moving back in though, you may want to take the following advice.
Guest Post by Danny Rubin
Did you just move back in with your parents? It’s time to start the clock.
A new survey from Coldwell Banker Real Estate found that parents think 20-somethings can live at home up to five years. After that, it’s back to the real world and the vast unknown or, you know, the pull-out couch in a buddy’s apartment.
A combination of student debt, the tough job market and a desire to save money have Millennials returning home at a record pace. A study from Pew Research reveals the number of people between the ages of 18 and 31 living with mom and dad rose 36% in 2012.
As we cohabitate, let it be known far and wide: these are the official ground rules for moving back with our parents.
1. We are a family and also roommates. The arrangement may be tricky at times, but we’re all grownups and will make it work.
2. I, your child, will never, ever complain about a (free) home-cooked meal — no matter how it tastes.
3. I don’t need to tell you where I’m going on a Saturday night, and you certainly shouldn’t stay up until I get back. I will, however, keep my phone on if you need me.
4. We can exist in the same space without constantly making small talk. And it’s OK to come and go without necessarily saying “Hi” and “Bye.”
5. You must ALWAYS knock before coming into my room. Even if the lights are off, and there’s no sound. Even if you’re 100% positive I’m not home.
6. While I only need 5 hours of sleep and a Red Bull to function, I realize you need a solid 8-9 so I’ll keep it down at night.
7. I promise to save money because I know my time in our house is temporary.
8. If the grass is getting long, I’ll mow it. If the floors are dirty, I’ll sweep them. If the sink is full, I’ll load the dishwasher. Thanks for letting me live rent-free.
9. The words ‘curfew’ and ‘you are grounded’ no longer exist. I don’t enjoy hearing the phrase ‘pick up your clothes off the floor,’ but I can’t stop you from saying it.
10. You can go out of town for the weekend and trust that, while I will throw a party, my friends have matured and won’t break expensive things like they did in high school.
11. If you need me to chip in for bills or groceries, just say the word.
12. Whether it’s for one week, six months or five whole years, I will never forget to thank you for letting me come back home when I need it most.
Guest Author
Danny Rubin is the managing editor of News To Live By, a blog for Millennials that highlights the career advice and leadership lessons “hidden” in the day’s top stories. Don’t just read the news — use it to gain an edge on the job. You can follow the blog at @NewsToLiveBy. – See more at: Damn Right I’m Part of the “Me Me Me” Generation.
I’ve been living with my parents for over a year now, and I’m finally moving out in a couple days. I agree with all of these, except there was an expectation that I’d tell them my plans if I was going out, and I didn’t really have a problem with it, although it was a little irritating at times. I will be happy to not have to give them a game plan every time I pick up the car keys, but I may still mention to my roommate when I’m going somewhere.
Yea once you’re an adult…it’s no fun explaining where you’re coming and going all the time. Totally with you on that.
It’s safe though, and it makes me feel safe knowing someone knows where I am, or where I’m heading, or where I’m supposed to be. That way if happens to me and I go missing, the police have something to go on. That may be something women worry about more than men do.
True. Just good practice, in general. Plus, I know a lot of parents will stay up all night worried sick if they didn’t when their (grown) child is coming home.
Hi Danny,
I just loved this post. It was very creatively written!
Indeed, as someone who lives at home, all the points in your post were very relevant to my own situation. Living with our parents can really be beneficial. Obviously we can save money, while still contributing to bills and so on, and our relationship with our parents can also get better.
Thank you.
Thanks! No one said moving back with our parents is easy, but for so many of us it’s the reality. A set of ground rules will help.
Very interesting article. Where I live (Hawaii) living with family has never gone out of style – in part due to cultural tradition but also because it’s so expensive to live here. In fact it was made official last month – Hawaii is the most expensive state to live in the US. That said, for me personally moving home never would have happened. I started packing boxes to move out of the house in my junior year of high school and hightailed it out of their 2 days after graduation. Two thousands miles of ocean between us and it still seems too close at times.
Yes, in very expensive places, rooming together does make sense. Although I understand that it’s important for young people to save money no matter where they live. Sometimes it’s just a smart move — for the short term 🙂
Awesome post. Several of my recent Millennial clients are living at home, with many being asked to pay rent. One, in fact, is not simply writing a check. He’s buying gift cards that his Mom can use for food or other essentials, thereby having his contribution go directly to items not only needed but shared with the entire family.
Gift card are a really clever approach. Points for creativity!