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At least closer in terms of proximity. A recent survey from the Pew Research Center shows that because of difficulties with their personal finances, many young adults are being forced to move back in with their parents. Of parents polled by Pew, 13 percent said that one of their adult children has had to start living with them again due to economic stress.

“Social scientists call them ‘boomerangers’ – young adults who move in with parents after living away from home,” a report from Pew stated. “This recession has produced a bumper crop.”

Overall, 4 percent of respondents who are older than 18 said they have had to move back in with their parents because of the recession. That number spikes for those who are between 18 and 34 years old, with 10 percent of respondents saying they’ve had to return home because of personal finance difficulties associated with the economic downturn. Continue reading ‘Recession Forcing Many to Move Back With Parents’ »

This economic crisis has everyone worried. It doesn’t matter if you work for minimum wage or are pulling in 7 figures, financial matters are on your mind. The good news is that there are some things that everyone can do to keep themselves afloat in this choppy economy.

Follow these 7 tips to help you sidestep your own economic downturn:

Step 1: Save as much as possible. Try to cut back on expenses so you can live on half of what you are living on now. Put the rest in savings. If something happens in the future then you have that savings cushion to fall back on.

Step 2: Try to save on every purchase. It doesn’t matter how big or small the purchase is, try to save. Cut coupons. Shop around for a better deal. Do whatever it takes to save every time you buy something. Continue reading ‘Is the Credit Crisis Over? 7 Steps to Protect Yourself’ »