Set to Succeed

How to deal with adult children who have moved back home


If you’ve had an adult child move home because of pandemic-related financial hardships, you know how difficult it can be. The best way to make things easier on yourself? Have plenty of conversations and set clear guidelines. Here are some ways to do that.

Talk First

Sit down with your adult child and have a wide-ranging conversation about their goals when it comes to living in your home. The first conversation should cover the big picture — how long they want to live with you, actions they can take to eventually move out, if you’ll be charging rent or not, etc.

Target Income

Discuss your adult child’s ideal job/income level. Once you have a realistic number in mind, create a budget together with that income as the starting point. Remember to include debts, rent costs, long-term and short-term savings. Once the numbers have been hashed out, does that income hold up? If not, it’s time to adjust the budget and/or ideal income expectations.

Be Patient

Resist the urge to send your adult child on his way the day they secure a job. As USA Today notes, it will pay to be patient. Allow your kid to live with you for three more months after they secure the job. That will give them some time to build a solid savings foundation. A more secure starting point will decrease the chances that your adult child will end up returning home in the future.

Chris O'Shea

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