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Monday, July 12, 2010

College grads who move home not all stoner losers

Moving back in with your parents post-college not only comes with a certain loss of independence and privacy, but it also tends to warrant stereotypical nicknames like slacker, goof-off, and slouch - not to mention some unfortunate comparisons to Matthew McConaughey's character in Failure to Launch.

Well, next time that happens, throw this statistic at 'em: Many boomerangers (defined as "young adults who, after living away from home, have returned to live with their parents") don’t fit the “slacker” stereotype as depicted by previous generations. A significant percentage of them — 35 percent, actually — are making what they consider to be a smart decision to move back home in order to build up their savings. In fact, only 25 percent of boomerangers live with their parents because they lack the financial resources to sustain a household of their own.

The results of this consumer study conducted by Luminosity Marketing further reveal that boomerangers — not their parents — increasingly make and influence household purchase decisions.

But don't get me wrong — this segment isn't completely misrepresented in pop culture and advertising. Some portrayals are right on. Only 57 percent of boomerangers have a specific timeline for moving out, and only 53 percent have a monthly budget.

With recent college grads forced to deal with a bleak job market and staggering student loan debt, moving back home might be a wise choice. However, returning to the nest should be a means to an end, not an end in itself.

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