Money Fix: Young adults living at home

What Long Island parents may know already the U.S. Census Bureau has confirmed: More young adults are living at home.

The Bureau reported that the percentage of young men ages 25 to 34 bunking in with mom and dad rose from 14 percent in 2005 to 19 percent in 2011. Make that a jump from 8 percent to 10 percent for young women.

Here are suggestions from Roberta Schroder, acting vice president of academic affairs at Nassau Community College, on addressing the dicey financial issues.

Confab. Lay out the facts of your monthly expenses, showing "here's what it takes to run a household," she says -- the regular bills, surprise expenses, giving a sense of the money flow. This is especially important for young people right out of college who have never been financially independent.

Contribute. An underemployed child, with money left after paying for his commute and other essentials, might contribute a set, albeit small monthly amount. Or perhaps she could assume payment of a regular bill.

Schroder says the older working students she knows who are happiest living at home are paying some rent and, perhaps, a cable or electric bill. Unemployed kids who are job-hunting can help by taking on extra chores and do volunteer work to enhance their skills.

Console. Along with the discomfort and anxiety both parties might experience, young people will walk away with a strong dose of budgeting know-how, she says. And parents can remind themselves that, eventually, their offspring "will get a job, and they will leave."