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Reply to "Allowing adult son to move back in? What is fair?"
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[quote=Anonymous]The way I would do it is that you give him a certain time limit of "rent free" living at home, say 6 months. That allows him to move home and have some time to look for a job, settle back down, get a routine going, etc. After that, rent will be up to 40% of his paycheck or a fare rent for a room (not necessarily in your neighborhood) whichever is lower, so say up to 40% of his paycheck or $600 whichever is lower. Bank the rent in a separate interest earning account. If enough is deposited, get a CD or something with better interest return. After he moves out, the next major expense that he has (buying a new car, buying a house, a wedding, etc), tell him that the money is there for him whenever he wants it. If he wants to continue to save it, change the name on the account to his and that will be his emergency fund for whatever he wants to use it for.[/quote]
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