Jeez. You should be blowing all your cash on booze and nights out when you're in your 20s. Save the boring stuff for later years.
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How much rent do you charge your children?
- Thread starter Box of Frogs
- Start date
Jeez. You should be blowing all your cash on booze and nights out when you're in your 20s. Save the boring stuff for later years.
Beach Hut
Brighton Bhuna Boy
£30 a week which in my view is too cheap and we put it away, to rub salt in the wound Junior has run out of money this week already so needs a loan.
Don't be daft. The OP was asking opinions on whether you should charge your kids rent. I gave him the benefit/disbenefit of my experience as he asked.
After talking to the wife about it this evening though, she has a different outlook which is similar to those on the "pay rent, and give it back for deposit" ideals.
I think it depends entirely on your circumstances.
Trufflehound
Re-enfranchised
£200 a week each.
Of course I'll have to raise that when they reach puberty and start demanding their own bedrooms.
Of course I'll have to raise that when they reach puberty and start demanding their own bedrooms.
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GOM
living vicariously
Wow, let me get my hairshirt and apologise for being born when I was.
And 40 years ago a house didn't cost twice your annual wage, at least not my wage as a young earner.
Bold Seagull
strong and stable with me, or...
KingstonSeagull
New member
My ex used to have to pay £400 a month and then received an allowance of £500.
I found the whole process very confusing...
I found the whole process very confusing...
GOM
living vicariously
Average earnings, not the wage of young persons in their first job. My salary was about 2k.
My kids have done fine getting onto the housing ladder, all by their own efforts thank you.
Bold Seagull
strong and stable with me, or...
Thunder Bolt
Silly old bat
I got married in 1969, when building societies would only lend 2.5 times the man's salary. They wouldn't take women's wages into consideration as they were going to leave work when the babies came along. At best, women would only work part time when children were born.
Even then, houses in the southeast were too expensive, certainly on one salary. That's why when my other half left the forces, we moved north to buy a cheaper home.
There was a period in the 80s when housing was relatively cheaper, but generally it has nearly always taken two salaries to pay for a mortgage.
The biggest difference now, is that kids are expected to receive further education, whereas then you left school at 15 or 16 and were expected to work. Only the very top 2% went to university.
ATFC Seagull
Aberystwyth Town FC
French Seagull
Active member
You are not doing them any favours not charging them something, if you can use some of it to help them in the future so much the better. It has always been tough buying!
My first place in Sussex 1984 was £34,000 I was earning £9K, I can remember going round the shops with a calculator and having next to nothing at Christmas. Don't you remember the high interest rates? It was horrendous at times. Was it late 1980's or early 1990's when interest rates went from 8 per cent to 13 per cent in six months – The repayments were massive.
I don't feel responsible, it might help if society was more proactive with house building keeping more for part rent/buy, some for rent (which was the way until this is now being reversed) and society (big business) was not allowed to be not so money grabbing. House prices will only get worse if the Government forces social housing to be sold off on the cheap, with the result that more and more young people will have to rent privately unfortunately and perhaps never own.
GOM
living vicariously
No not in Yorkshire
Got one at Uni, so paying out a bit, and one at college only earning pocket money so situation hasn't arisen yet. If it does, think we'll be in the charge them but put it away for later camp. Need to instill some discipline about budgeting, but at the same time will want/need to support them, particularly if they are in the South East. Fully expecting to help out with large deposits as and when the time arises - can't see how either will get to a position where they'll be able to do it alone.
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I disagree, it is accurate. Of course you're right that some children will me much luckier than others and they will be well aware of that. Others will work hard and still not be able to buy anywhere. But if a parent can afford to help there kids, do they just give them cash as a deposit when the time comes, or do they charge them rent early on and later give it back - if they do the latter, that is teaching them to live within their means and budget, rather than let them live rent free and still pay for their deposit.
I used to pay my parents a third of my income when I started work and didn't get any back when I moved out. I blew the rest on going out, a car and all the other usual stuff. I'll be charging my kids the same when they start work full time and will save it for them without them knowing to help them when they leave.
I see way too many people charge their kids nothing (often into their 30's now) and all they spend it on is holidays, clothes etc then wonder why they have no deposit to put down. We all love our kids and want the best for them and sometimes that means saying no, you can't have that. I think there's too many parents not willing to say that these days though sadly.
I see way too many people charge their kids nothing (often into their 30's now) and all they spend it on is holidays, clothes etc then wonder why they have no deposit to put down. We all love our kids and want the best for them and sometimes that means saying no, you can't have that. I think there's too many parents not willing to say that these days though sadly.
biddles911
New member
- May 12, 2014
- 348
Thanks for the light relief! This thread is getting way too serious and turning into an inter-generational/class discussion.
If you've got the money, parents will usually help their kids. That's a fact of life. If they haven't, they won't.
Simples!?
biddles911
New member
- May 12, 2014
- 348
P.s. You should think yourself lucky. My 18 year old stepdaughter hasn't worked since Christmas, spends all day in bed and refuses to even sign on for Jobseeker's Allowance but we continue to fork out hundreds for driving lessons, Spotify, mobile phone etc. as well as bed and board, much against my better judgement but her mum insists that the poor lamb can't survive without them....
Give me strength!