Rent, groceries, utility bills--all of these are a factor when your child moves back home. Some parents choose not to charge their child rent, depending on the reason for moving home and whether they have a limited income due to unemployment or student status.

However, charging your child room and board, no matter how little, can help him learn to manage his finances and prepare him to live independently when he moves out. It might also reduce the chances of you becoming resentful if he is spending money elsewhere while depending on you.

How long your child lives at home is dependent on his situation. If he is in school, you may want to set a move-out date a month or two after graduation. If your child is unemployed, expecting him to diligently look for a job, and move out upon employment, is reasonable. Have a discussion with your child and agree on a time frame. This will help him on his road to independence, and it will give you peace of mind knowing your child's situation isn't permanent.