The numbers are in. The job market for college graduates is perilous, and not just for recent graduates either. The situation is aptly summarized by Federal Reserve Economic Data or FRED. There are a lot of implications here, but one of them is this: clear out the basement because your adult child is coming back home. But this raises the always touchy subject of charging rent. Should you? There is no right or wrong here on whether to charge rent, but if you do, there are plenty of rights and wrongs. Here’s a quick guide to keeping your own finances and your relationship with your adult child intact. Write Everything DownAny discussion down the road that is premised on, “Well, you said...” is bound to end in tears, literally or figuratively. Here’s what you need to cover up front. Financial contribution. Decide on rent or which bills they’ll cover. Even modest amounts build responsibility. Household roles. Who cooks, cleans, and shops? Non-financial help matters, especially while they’re between jobs.Privacy and space. Set rules on rooms, guests, quiet hours, and work-from-home time so everyone can rest and work. Your GoalsIf you are charging an adult child rent, your goals might be purely financial. But if you really think this is the case, you are probably fooling yourself. While you might indeed have a financial goal, you are still a parent, and that parenting instinct is going to surface. When it does, channel it toward one overarching goal: avoid enabling your child. The most effective way to do this is to plan the exit from the start. This involves two important considerations. The first is to establish a time frame. Is it a year? Or is it three months? Whatever the time frame is, establishing one puts the responsibility back on your “tenant,” and not you, for meeting or missing a goal. Second, link the time frame to a concrete objective. Some objectives might be: the accumulation of a deposit and three months’ rent elsewhere, the completion of additional training or a credential, or, hopefully, ultimately, a full-time job. When the prodigal son, or daughter comes home, try to avoid the “back in my day,” or “I told you so,” comments. Keep in mind, moving back home is probably the last thing your child wants. You might consider holding onto their rent and giving all back to them when they move back out. That might be a big sacrifice, but that’s what parents do.