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.
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.
More from Bankrate.com:
VIDEO ON MSN MONEY
Bigdaddy, you're right. Looks like some don't agree. I grant you that for some of those "kids" it would be difficult to accept. However, if they are grown up, they should be able to handle that mentally and therefore physically.
I have a 31-yr-old daughter AND son-in-law STILL living here. They are both teachers, and got their credentials JUST before the layoffs. So they haven't really been able to get steady work. I have them covered on auto, and they pay that. That's about all. They do take care of their own food. They are trying to save enough to get OUT, buying their own house. Soon, I hope. I wonder.......
Husband said "I don't want to loose my son'. He lost me, instead, because of the lies and deceit.
I started over, alone. Three years later, I'm out of debt, own everything I need, and will soon buy the car that was always promised to me.
Those two are still whining about being broke and poor. The kid is still unemployed (keeps getting fired for stupid reasons), has never finished his college program, but DID get married! (good thing his wife has a good job.) Daddy-o got fired, is living off disability, and engaged to a pot-head.
I'm happy for all of them!
I agree with some of this and other points I don't. Every case is different, each parent just has to know their child. I am 25 and recently moved back home because I went back to graduate school and could not work full time any longer. I of course hoped my parents would see that I am not just bumming but trying to do something better with my life. I have a car note, insurance and other bills I accumulated that I still pay for on my own working part time. I don't eat what my parents eat so I buy my own food. I am respectful of their place, don't have people over or be loud, the only common area we really all use is the kitchen so I keep that clean as much as possible. We did have a one time discussion about their expectations which I respect, I am not going to be comfortable there the way I am in my own place but I knew I was going to make that sacrifice a year before I did it. My mom kept telling me I would be happier living elsewhere like with a roomate and she's right but my focus right now is going to school, not partying or having friends over. I still go out and stay out late but I let them know that I'm going. I don't spend the night away from the home unless I'm out of town. I have a younger brother, who parties much more than I do and I just don't think thats a concern for my parents, their concer in more so not having to be responsible for us financially and for our decisions.
BUT a couple of years ago, I lost my job and I talked to my parents about moving back home until I got back on my feet and my dad tried to do a contract with me. He doesnt know me very well adn he thought that I was going to cause trouble, being out, drinking ect. In the contract it was like 20 different items, and it was all just negativity, already going through a hard time that just made things ten times worse. I think parents should understand that we are going through a rough time, especially if I have been taking care of myself up until now and have not been depending on them up to that point. What parents say to their children, even adult childred can really affect them. To set a contract is a slap in the face. But every thing is situational, if you know your child is unruly and you forsee problems then fine, do what you need to do, but for me I felt it was uneccessary. I didn't want them in my financial business, or giving me suggestions about budgeting ect, I just lost my job, plain and simple. I don't want them revising the contract monthly, and feeling like a stranger in my own parents home. Just tell me your expectations and let me work towards getting back on my feet, if we have that type of relationship, I will come to you on my own and get advice. Good article though.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
RECENT ARTICLES ON FAMILY & MONEY
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'