Washington ? Victoria Grossmann graduated from the University of Florida in 2003 with a degree in business, a minor in statistics, big plans – and about $5,000 in credit card debt.

That debt was enough to send her home to live with her parents for three years, during which she learned the tough lessons confronting many young people saddled with consumer debt and increasingly hefty student loans.

“I had a hole to dig myself out of, and therefore moving home was the only answer,” said Grossmann, 25. “If I tried to pay rent, that would be just extending the amount of time it would take for me to pay off my credit card.”

Such are the trade-offs facing many graduates. Some – known as the Boomerang Generation because they just keep coming back – move in with their parents, and others scrape by on their own. Either way, this is when young adults gain their financial footing by learning to juggle needs and wants.

Call it Personal Finance 101, the hard way.

“Today’s recent grads are dealing with more money issues … really than any generation before them,” said Todd Romer, executive director of Young Money magazine. “If they were not able to save and be frugal during college, they’ll still need to attempt to be frugal in those first few years after college.”

For recent graduates, trying to live within a budget is complicated by low starting salaries, minimal savings and often high educational and other debts.

Student Monitor, a New Jersey research firm that specializes in the college market, puts a graduate’s average student loan debt at $25,760, which will take an estimated 7.9 years to pay off.

Chris Economou, left, a financial planner, goes over college paperwork with son Thane 18, in their home office in Tulsa, Okla. Some college graduates are moving back home to help confront consumer debt and increasingly hefty student loans.

Other research suggests that credit cards may be an even greater burden as young adults get older: An analysis of Federal Reserve data by the policy-research group Demos: A Network for Ideas & Action showed that adults between 25 and 34 have an average credit card debt of $4,358.

Saving a priority

Numbers like these have driven many young adults back to the nest after their college graduation. A report released last month by Experience Inc., a Boston firm that recruits at universities across the country, showed that more than half of the approximately 300 students surveyed moved in with their parents after college, with 32 percent staying more than a year. Forty-eight percent of those living at home said they did so to save money.

Financial planners say that for those who live at home, saving money should be the top priority.

Shashin Shah, a financial planner with SGS Wealth Management in Texas, advises young adults living at home to sock away at least 10 percent of their salary. That should be done in part through a 401(k) if offered by their employer.

Shah says recent graduates should try to save for retirement, even if that means taking longer to pay outstanding credit card balances, though other advisers say paying off those debts should come before anything else.

‘Contract’ with parents

Abby Wilner, co-author of “Quarterlife Crisis” and “The Quarterlifer’s Companion,” recommends that parents and kids discuss financial goals and expectations, including the length of time spent at home. Whether it’s with chores or rent, parents should require that children contribute to the household.

Wilner offers a template for a “contract” between young adults and their parents that includes the amount of time per week young adults must spend researching careers and how much access parents can have to their bedrooms.

Experts (not to mention young adults and their parents) debate the merits of charging rent. Elina Furman, author of “Boomerang Nation,” said rent is crucial to teach responsibility, even if it is a nominal $50.

“It’s a very important gesture that implies that you’re an adult and want to be treated as an adult,” she said.

Furman acknowledges that some parents think asking for rent defeats the purpose – the more money their children can sock away, the more quickly they can move out.

Furman recommended that parents who are uncomfortable taking money from their children invest those rent payments in an interest-bearing account and return it when the children move back out.

For young adults who decide to live on their own, financial planning experts say it is crucial to set up a budget that incorporates savings and realistically accounts for housing and other costs.

Shah said that young adults preparing to live on their own should budget a little less than 30 percent of their income for housing and that car payments should not exceed 25 percent.