Boomerang Generation

I’m Part of the Boomerang Generation and I Need Out

So, you did what you were told. You studied well and got into a good college, had some fun but didn't let your grades slip too far and graduated. The job market didn't bounce back in your field so opportunity was limited. Your parents told you to move back home; after all, your room is always your room. Fellow college friends decided to move back home as well. Easy decision.

After the initial adjustment to moving back in with your parents, who were overly excited to have you back, life got comfortable. You found a job, not your dream job, but is less than you expected to get paid. Things seem to be okay until Sallie Mae started looking for you. At that point, a large portion of your small salary went to a non-tangible source. You were slightly frustrated at that situation when you walked in the kitchen door found your dad drinking out of the milk jug in his boxer shorts! You said to yourself, I need to get my own place but how?

Plan your end date

There is no plan unless there a defined date. Don't be unrealistic, though, and make that timeframe in a few weeks. That could set you up for failure and once again sitting on your parent's couch watching HGTV while they banter about how the kitchen can be remodeled in 2 days.

Where are you going to live?

Is your place in the city or suburb? Do you want a roommate or do you want to live alone?  These decisions will directly influence the amount you need to save. Keep in mind, this is your first place and not your only place. Your parents may have lived in the same place since they were 25, but they also worked at the same company for 40 years so allow for more options.

I'm going to have to save how much?

Good, you now know the number to reach to get your goal. You now will need to set a budget and stick to it. It will have to be strict enough to reach your target date so remind yourself of your goal each day you are eating bologna and cheese. You may even have to forgo that morning Starbucks run and buy a travel mug. We all have habits and no matter what they are, they cost money. You are going to have to re-evaluate yourself and funds weekly to see what else may need adjusted.

Dreams do come true

It will probably not be easy but it will be worth it. Just imagine, Thanksgiving dinner 2017 after the leftovers are set aside. You take your Tupperware containers and drive back to your place to watch football and eat your leftovers without any more “significant other” questions.