Monday, May. 02, 2011
Charge Rent
Allowing your kids to move back home is an inexpensive way to help them get back on their financial feet. But this aid should not be seen as a blank check. Financial experts say it's a good idea for you to charge your adult children rent for access to their old room, or your new study. Ideally, you give them a few months rent-free to find a job. Then you charge a modest amount that fits their budget. Set a deadline for when the rent will rise to something close to market rate in order to provide incentive for them to get their own place.