In this week's Money Matters we are talking about kids and money and how you can help them without breaking the bank.

A survey by Charles Schwab last year found 41% of parents provide some level of financial support for their children ages 23 to 28. And, the recession is forcing a lot of adult offspring to move home.

Jane Bryant Quinn has the following tips on what pitfalls may await you.

First. College tuition. Quinn says don't go into debt for a high priced dream school. You can help, but it doesn't have to be Harvard. And Quinn warns about cosigning a college loan that you can't afford. If you kid loses his job, becomes disabled or god forbid dies, you're on the hook for every dime.

Second. Boomerang kids. Before you let junior move back home get with your spouse and negotiate terms with junior over rent, chores, hours, music volume and friends with benefits under your roof.

Third. Kid's medical debts. Health insurance is a must. If they're under 26 put them on your plan. If they're older consider buying them low premium, high deductible health insurance.

Fourth. Foreclosure. Don't use your income or savings to help an adult child stave off foreclosure. Once a borrower gets six months behind on a mortgage, it's almost impossible to recover. The child may be better off walking away from the home.