[Finance] Do you charge your kids rent ?

[dazzer6666]

And this is where we will respectfully disagree. I believe that if the are adults with all the benefits that brings then they should take on the responsibility of being adults. Now what that is, in financial terms and at what age, is up to you and them to agree.

Of course they get it all in the end

Don’t even need to disagree……..all down to individual circumstances really. Taking a few quid a week from one of our kids would have made no difference to us at all, but offspring were very aware that they were ‘lucky’ and if they weren’t saving what they would have been paying to us then we may have acted differently

 

[WATFORD zero]

Whilst I don't make mine pay housekeeping (she's 3) Your post reminds me of my parents.

Aged 16 I got a YTS scheme job that paid £40 a week. Living at home my mum took £10 a week for housekeeping which at the time I thought was harsh. Roll on 10 years and buying my 1st house she gave me the deposit for it which she had invested wisely.

So yes I would and will charge mine rent and board if at home and earning. It would no doubt help them in the future even if they do not see it now

And isn't it so much better helping them out with money they have actually earned themselves

 

[dazzer6666]

Having employed hundreds of graduates over the years, all other things being equal, I've always employed the one who has laboured on building sites, stacked shelves, been an attendant at an all night garage and done one of the many shit jobs a lot of students do to get them through.

I've found they seem to appreciate far more when they've got a really good job

Agree with this. I was heavily involved in graduate recruitment in my last two firms………always a very clear split between those grafters and those that were ‘entitled‘.

 

[Bold Seagull]

I charge mine, but he’s only 12 and is going to need a second job on top of the paper round. They need to learn.

 

[Goldstone1976]

My youngest is 12 weeks tomorrow. She can start paying rent next month I reckon.

 

[BN9 BHA]

My youngest, age 19 is home from uni at the moment, he’s working during the holidays but we would definitely not charge him rent. He’s very good at saving money and does his own washing and tidying up.

If I had one of those 30 year old man babies at home that drives around in a new white Mercedes (on finance), goes on expensive holidays and expects his washing done etc, I would be charging at least £100 pw.

 

[Weststander]

Having employed hundreds of graduates over the years, all other things being equal, I've always employed the one who has laboured on building sites, stacked shelves, been an attendant at an all night garage and done one of the many shit jobs a lot of students do to get them through.

I've found they seem to appreciate far more when they've got a really good job

I was talking literally about jobs as kids age 12 to 15. It gives no indication on graft/success as an adult imho. Often only doing it through bullying or tight fisted parents. It can lead to studies being disrupted, kids need sleep and rest, something has to give.

But I do agree about students working. I did labouring and bricklaying, if anything, it makes you appreciate non-back breaking professions out of the rain. Fund a better lifestyle as a student, travel and end up with much lower debt.

 

[Oh_aye]

Something I read on another thread sent me off thinking about this.

When my kids turned 16 and went to sixth form college, they both had to get Saturday Jobs and ended up working at Primark. The money they earnt was theirs and obviously they could spend it on whatever they wanted despite any tutting from us. However about 10-20% was taken off them as 'housekeeping' (I think it was 40% when I was 16 but whatever ).

My son went to Uni and my daughter decided she didn't want to. My son's Primark job supported his living expenses throughout Uni (together with a few Summer jobs) so his only debt was the course fees. I had an agreement with my daughter that she had to work 25 hrs a week and pay 'housekeeping' if her boyfriend wanted to come over. (25 hrs at Primark focused her mind and she got a proper job )

All the housekeeping they paid us was put away with various financial Birthday and Xmas presents, child allowance and other bits and my son used it to pay off a major part of his Uni fees while my daughter used hers to spend 12 months in Oz.

However, back to the question, Do you charge your kids rent and if you do, from what age and how much ?

*edit* My kids are 28/26 so we are talking 10 years agoish

My kids are 6 and 9 but this seems like an excellent system and I'm nicking it!

 

[ozzygull]

My daughter graduates this year but has already got her results and will be returning to university to do her masters.

if after that she lives at home and gets a full time job, then I will charge her rent. But I will put it in a savings account and give it back to her when she wants to move out to help with a deposit. It will get her use to losing the majority of her income to live, because that is the reality.

 

[ManOfSussex]

I remember telling my Dad and late Mum when I moved back in with them when I was about 20 and them suggesting I pay board and lodging, that doing so would mean I would have less money to go out with therefore I'd be at home and around more as I'd have less social life funds. They agreed and therefore I lived rent free for 5 years until I moved out.

 

[Wardy's twin]

Charged the eldest one rent, especially as her partner lived with us. Basically did it as an enforced saving scheme and returned the money + a lot interest when they bought a place and did same with youngest ( with even more interest) . Middle one was never really in a good place to save so she just get's the interest.

It was really just an attempt to get them to think a bit more about the cost of living.....

 

[Gabbafella]

My stepdaughter pays 25% of her wages and has done since she left education.

 

[Knocky's Nose]

We did consider taking money off ours, then just banging it into a savings account and giving it back to them when they move out.

Never happened, and they both lived rent free. Sponging little shitehawks.

 

[wellquickwoody]

I gave my mum £10 a week when I started working and was happy to do so.....,1982. take home was £39 a week.

Again in 82, I gave my mum £10 a week but I was on a YOP/YTS scheme taking home £23.50 I think. The idea of not charging kids who are earning is just bloody ridiculous and storing up trouble in my view, although the idea of saving it up for them to return when they buy a home seems a great idea if you can afford to.

 

[Beach Hut]

We did as soon as soon as they worked full time however saved it and gave it back to them when they left home.

 

[shingle]

Yes, son is on a good whack and I charge him a peppercorn rent as I like to call it. £45 p/w. He buys all his own food, but his contribution of said £45 goes towards the council tax, broadband and utility bills etc.

Plus its like a hotel for him, all his washing and cleaning get done, result all round eh

 

[The Clamp]

My parents didn’t charge me rent but I had to either be in education or work if I wanted to live at home.
I got a job and moved out when I was 18 so it didn’t really matter.
I think it’s good to charge something though, gets kids used to the real world.

 

[Rdodge30]

It’s not about the money though is it? It’s about attitude and respect, never expecting something for nothing and learning to pay your own way in life.

I was working early mornings before school and all day Saturdays before I left school but as soon as I did leave at 16 my old man said you give your mum £10 a week - at £1.54 an hour that was roughly 6 hours wages. I was still 16 when I left home my first bedsit was £25 a week and all the one bedroom flats were £40 a week

I don’t think the youngsters today have it any harder than that in all honesty ??

16 hours wages a week for a bedsit
26 hours wages a week for a one bedroom flat
6 hours wages a week to stay at home

 

[jackanada]

I never paid rent, though I did do a lot of household maintenance and repairing the macerator just about every month after my sister or one of her friends bunged it up with a tampon, complete with the classic trying of a second flush to soak the floor in effluent, I consider far more character forming.
Saved enough to go abroad and useless agency keeping me on emergency tax meant I came back to a nice refund, a decent wedge of which I chipped in for a new macerator as the old one went terminal in my absence.

 

[banjo]

We did as soon as soon as they worked full time however saved it and gave it back to them when they left home.

I’m doing this.