The number of young adults currently living with their parents is the highest it’s been in 75 years.
That’s according to a recent study by the Pew Research Center. The same study also found that 33 percent of 25-29 year olds lived with their parents or grandparents in 2016 – three times as many as in 1970.
What gives? Pew’s researchers think they may have an explanation: unlike previous generations at this stage in their lives, late twenty-somethings are less likely to have a well-paying job (and also less likely to be married).
Certainly, there’s no shame in moving back in with your parents, but many twenty-somethings may feel that that they’re in a rut. If you’re trying to move out of your parents’ house (again), here are 6 tips to help jumpstart your move:
1. Set a Date.
Once you set a deadline for moving out, the prospect of actually following through becomes very real. Tell everyone – your parents included – about your planned deadline; accountability increases the chances of you actually making the move. With a deadline in mind, you can now start planning your budget, job search timelines, moving logistics, and so on.
2. Stick to a Budget.
Money will be the biggest hurtle to overcome as you prepare to leave the nest again. Make a budget of everything you will have to start paying for, including big things like rent, utility bills, and food, and smaller things like household maintenance items and laundry costs. What bills are you currently paying versus your parents? What bills could you afford to start paying? Having a good understanding of your financial situation will help you realistically plan for life outside the nest.
3. It’s Okay to Ask For Help.
Even though you are trying to make your own way in the world, you may still need some extra help from your parents – and that’s okay. The difference between borrowing from them when you were a kid versus now, however, is your commitment to paying them back. If you need a small loan to pay the security deposit for your apartment, commit to paying your parents back, whether it’s in small installments or all at once. This will help you start acclimating to adult life (without going completely broke), and let your parents help you without losing more money in the process.
4. Start Applying to Jobs NOW.
Your number one priority is to get out of your parents’ house and start supporting yourself on your own, which means that getting a job is imperative. Or maybe it’s getting a higher paying job. Whatever the case, start applying now; even if you’re not a great fit, you can get a sense of the skills and education you need to have for certain jobs. This allows you to start investing in areas that will make you a more attractive and competitive applicant, like coding classes or brushing up on your design skills. Plus, going to interviews now can only serve as good practice. Do this all now while you’re still in the safety net of your parents’ home, versus when you’re worrying about how to pay rent.
5. Build a Credit History.
Oftentimes, landlords like to see credit history for apartment applicants. Start establishing your credit history now (if you haven’t already) by getting a credit card, making small purchases, and paying them off completely and on time. Avoid using your credit card for big payments; as long as your card is in good standing, you will have a good credit history.
6. Save Where You Can.
Learn to cook healthy recipes from cheaper ingredients. Buy cookware that pulls double-duty. Get in the habit of visiting vintage shops, thrift stores, secondhand shops, and consignment stores. Estate sales are another great source for nice furniture at a hugely discounted price.
Walk or bike wherever you’re able to. Be resourceful with your money – only pay for what you absolutely need. Do all this and you will finally be out from under your parents’ roof for the second time before you know it.
