Advice for Parents of Boomerang Kids

When your adult children move back in, lend them a hand without letting them get too comfortable.

Confession time: I have had one child boomerang back home after college and am about to have another.

I've dished out lots of advice to other parents on what to do about financial issues that crop up when kids head back home (see Writing a Contract for Boomerang Kids and When the Kids Come Home). So when our son John returned after graduating in 2005, I felt obliged to eat my own cooking -- or at least enough of it so that I wouldn't be embarrassed to explain how our family handled money matters in our new situation.

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Janet Bodnar

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.