Is Your College Graduate Moving Back Home?

According to a 2006 MonsterTrak survey, 48 per cent of all students will find themselves knocking on their family's door come graduation. Additionally, 44 per cent of last year's graduates are still living with their parents. With astronomical tuition costs, credit card debt and the high cost of housing in major metropolitan areas, what's a new college graduate to do?

If you're in this situation, www.boomerangnation.com offers these tips:

• Set a move-out deadline: Before they move in, make sure to set a departure date. Otherwise, you will become frustrated and your son or daughter may become unmotivated to move out on his or her own.
• Avoid the temptation to baby them: Encourage your graduate to take on household responsibilities like fixing the computer or cooking dinner.
• Don't put your life on hold: Carry on with your day-to-day activities as you normally would or risk resentment setting in.
• Discuss goals with your graduate: Saving for a downpayment on a house, starting a business, finding a job, and eliminating debt are all good reasons for your son or daughter to move back home. You should discuss these goals with him or her and work together to make them a reality.
• Charge rent: Whether it's $50 or $300 a month, it's important that your son or daughter contributes to the household. If you feel guilty accepting cash, invest the funds and present the money as a gift once he or she is ready to move out.

Do you have more tips for surviving and thriving while having your adult child live at home?