Parents Beware: Grads Moving Back Home After College

moving back home after college, TJ Woods Insurance Agency, Worcester MATraditionally, college graduates get a job and are ready to move out of their parents’ house right after graduation. However, within the past few years, that is becoming harder and harder to do. In the current economy, jobs are scarce and experiences are everything. College graduates are more common than ever before and the competition is fierce. According to a recent Pew Research Center study, 36% of young adults ages 18-31 are now living with their parents.

So, what are their alternatives? The common trend has been post-grads keeping their part-time jobs and moving back home with mom and dad until they find a secure, full-time job. Even then, rent for apartments has sky-rocketed, especially in the big cities where the good jobs are. So the question is: what are parents to do? Most likely, they were not ready for this transition from living at school to “mooching” off of mom and dad. While your children are adults, there will be times when you want to treat them like children, and tensions will rise. To keep the peace, there are some tips and tricks to live in a relatively calm household.

Set the Rules

When someone who moves back home from college, they are typically going to act like….well, someone who just lived in college for four years. Sure, they were home for the summers, but they were tied down to school and that was their main priority. Now that they are job-hunting, more should be expected out of them. Make sure they know exactly what that is. They might want to go out every weekend like they did at school. Just explain to them what you feel comfortable with. Sitting down and talking to them about what your needs and expectations are will help everyone be on the same page.

Understanding Their Situation

To keep on the same page, you have to understand what they want to accomplish in their future. Are they moving up to full-time in that part-time job? Are they interviewing for jobs, just to be turned down? Are they doing unpaid internships to gain real-world experience? Whatever the situation should be, make sure they are motivated towards their future goals. If they are not motivated, try to understand why without being too scolding. Help support them emotionally in whatever way that you can.

Money Talks

Take into consideration how long you think your children will be living with you. If they have been living with you post-grad for a year or longer, then it is time to set up some sort of “payment” that will let them know that they have to contribute to the household. Payments could be set up as regular household chores, paying a certain bill (cable, electric, etc.), buying groceries, or plain old rent. Whatever it is, make sure that they can afford it monthly, and they are still able to save money for themselves. To ensure that they pay every month (or week), set up a simple “contract” that outlines what they owe, when it is due, and the consequences for not paying up.

Insuring They Succeed

When you believe that you can survive living with your adult children, the next thing to consider is homeowners insurance. You will be more likely to have a house fire or a flood due to your children living at home, leaving their candles lit, curling irons on, and clogging the shower with the hair that they do not clean up. If you need to up your premium, TJ Woods Insurance Agency in Worcester, MA can help. Our experienced insurance reps are human too, and can understand whatever situation you or your children get into. Contact us before something happens.

How do you deal with children coming home from college?