Financial issues driving many families to double, triple up

With unemployment remaining high for a number of months, the economic issues of the past few years have driven many people to move in with family members in order to save money.

The number of multi-generational households in the U.S. jumped from 46.5 million in 2007 to more than 51 million in 2009, according to an analysis of government data by the Pew Research Center. That 10.5 percent growth rate was also more than five times the 1.8 percent growth rate for the population as a whole.

Of those households, most were made up of two adult generations, such as an adult child living with their parents, while a third included three generations.

Much of the reason for the growth of larger households may be financial. Multifamily households had a significantly lower poverty rate even though they had lower household incomes after adjusting for size.

Those in difficult financial situations may also benefit from reviewing their credit reports. They may find that they contain inappropriate marks that are hurting their three-digit scores.