Make it a learning experience

If your child doesn't have a job, consider outlining your expectations for job hunting, says Ruth Nemzoff, the author of "Don't Bite Your Tongue: How to Foster Rewarding Relationships with Your Adult Children." This might include talking to one person each day about an internship, scheduling time for an Internet job search or volunteering at a workplace to gain experience.

For young adults struggling with credit card or student loan debt, a frank discussion about managing debt may be the best approach. Going to a financial planner for professional help is another option.

If your child moves home with kids in tow, keep in mind you may be caring for your grandchildren more than you planned, says Michon. Depending on your child's income level, government assistance for child care may be available.

Review the arrangement periodically

Consider meeting once a month to go over your child's situation. Discuss what is going well and what is not, Nemzoff says.

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You might be eager for your child to leave, but in the meantime, focus on the perks of the living arrangement, Nemzoff says. "Think of it as a chance to get to know each other as adults and to redefine your relationship for the future," she says.

In Jenkins' case, her son moved out after a short time. "As it worked out, he just needed a roof over his head for a while," she says.

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