How much rent do your kids pay (at home)?
Discussion
Alucidnation said:
We charge ours £1000/month each, but that includes food/washing etc.
However, it all goes into separate accounts.
They have no knowledge of this, and when they eventually get a place of their own, they will have it all back.
How old are they and what sort of figures are they earning to be paying 1k each a month?! However, it all goes into separate accounts.
They have no knowledge of this, and when they eventually get a place of their own, they will have it all back.
When my eldest was working and living at home we "charged" her £150 pm (not that we got it that often!), I don't see why she should be earning and going out on the piss but not contributing to the household.
If she'd been saving or was looking to the future and not pissing it all up the wall then I may have taken a different view but I don't see why we should have effectively subsidised her weekend and evening activities, especially as she was the sort of person who felt as she worked 5 days a week then she shouldn't have to do anything at home to help!
We will do the same with her sister who is at uni at the mo but she is far better round the house and with money in general so depending on how things pan out we may put any "keep" away for her, for her future.
If she'd been saving or was looking to the future and not pissing it all up the wall then I may have taken a different view but I don't see why we should have effectively subsidised her weekend and evening activities, especially as she was the sort of person who felt as she worked 5 days a week then she shouldn't have to do anything at home to help!
We will do the same with her sister who is at uni at the mo but she is far better round the house and with money in general so depending on how things pan out we may put any "keep" away for her, for her future.
Leicester Loyal said:
Alucidnation said:
We charge ours £1000/month each, but that includes food/washing etc.
However, it all goes into separate accounts.
They have no knowledge of this, and when they eventually get a place of their own, they will have it all back.
How old are they and what sort of figures are they earning to be paying 1k each a month?! However, it all goes into separate accounts.
They have no knowledge of this, and when they eventually get a place of their own, they will have it all back.
- seems like a lot of money to me, so I guess they both must take home >£2k / month??
My offspring pay nothing to live at home. They will help around the house, pick up stuff from the shop when asked, I'm fine with this as long as they are sensible with their money, they seem to be.
When I first stared work I was getting just under a tenner a week, parents got £2.
When I got that job the first thing my parents said was "how much you getting paid?". No congratulations, typical of them. When mine started work FiL was just the same.
When I first stared work I was getting just under a tenner a week, parents got £2.
When I got that job the first thing my parents said was "how much you getting paid?". No congratulations, typical of them. When mine started work FiL was just the same.
Alucidnation said:
We charge ours £1000/month each, but that includes food/washing etc.
However, it all goes into separate accounts.
They have no knowledge of this, and when they eventually get a place of their own, they will have it all back.
This is exactly what my parents done for me. Got me used to having a large financial commitment, like a mortgage. It was a very nice surprise to get a chunk back later in life. However, it all goes into separate accounts.
They have no knowledge of this, and when they eventually get a place of their own, they will have it all back.
It’s all very well saying I paid £xx per month back in 1983 but it doesn’t really give the OP much help 
Mine are young’uns so no worries yet but I’ll stick to the education/free working/board rule.
I also like Peter Jones (off dragons den) method, it went something like he gave them nothing of his fortune but doubled their salary whilst training for a professional or philanthropic career-to keep them grounded but also incentivise the to earn more in better careers.
Mine are young’uns so no worries yet but I’ll stick to the education/free working/board rule.
I also like Peter Jones (off dragons den) method, it went something like he gave them nothing of his fortune but doubled their salary whilst training for a professional or philanthropic career-to keep them grounded but also incentivise the to earn more in better careers.
alorotom said:
They didn’t see the point as they “didn’t need it”
If that's the case then the money could have sat in a savings account earning 0.1%, then ultimately the Council take it to pay for care or the Government take a slice in tax.It doesn't make sense to charge on that basis and that will be most cases I'd guess as the parents are unlikely to rent the room to someone else if not the child.
The opposite case is where the parents do need the money and the child is renting anyway, might as well keep that money in the family and help the parents out.
I guess there are two ways of looking at getting kids to give you money each month.
1. You charge them enough to cover what its actually costing you or thereabouts.
2. You charge them more than its costing you and just save it up to give them later.
Personally we have already setup a Stocks and Shares ISA and our first is not even born yet (Wife is 40 + 2), will be getting £100pm into it until they are 18+. I think its important to try and teach kids about the real world and my parents charged me about £200pm but this was only once I started work full time. I never got anything back from them as being one of 5 kids, they struggled financially anyway. I will probably do a similar thing for ours once we get to that point and then just bang it in the ISA for them to use a deposit.
1. You charge them enough to cover what its actually costing you or thereabouts.
2. You charge them more than its costing you and just save it up to give them later.
Personally we have already setup a Stocks and Shares ISA and our first is not even born yet (Wife is 40 + 2), will be getting £100pm into it until they are 18+. I think its important to try and teach kids about the real world and my parents charged me about £200pm but this was only once I started work full time. I never got anything back from them as being one of 5 kids, they struggled financially anyway. I will probably do a similar thing for ours once we get to that point and then just bang it in the ISA for them to use a deposit.
RC1807 said:
Leicester Loyal said:
Alucidnation said:
We charge ours £1000/month each, but that includes food/washing etc.
However, it all goes into separate accounts.
They have no knowledge of this, and when they eventually get a place of their own, they will have it all back.
How old are they and what sort of figures are they earning to be paying 1k each a month?! However, it all goes into separate accounts.
They have no knowledge of this, and when they eventually get a place of their own, they will have it all back.
- seems like a lot of money to me, so I guess they both must take home >£2k / month??
I tried to get them to learn a trade to earn better money but they didn't like the thought of getting their hands dirty.
My daughters are 21 & 25 and both pay £200 per month month, I have then saved this without them knowing.
They have friends who pay nothing and both feel this doesn’t prepare you for the real world.
Eldest is in the process of buying her first home and even though she has a good savings pot she didn’t have enough for all her white goods and furnishings, so it was really nice to hand her a bank statement in her name with a few thousand to pay for all those bits.
They have friends who pay nothing and both feel this doesn’t prepare you for the real world.
Eldest is in the process of buying her first home and even though she has a good savings pot she didn’t have enough for all her white goods and furnishings, so it was really nice to hand her a bank statement in her name with a few thousand to pay for all those bits.
xjay1337 said:
TwigtheWonderkid said:
We started off on £200/month when they were just starting out on around £18K/year. But fortunately we don't need the money so unbeknown to my son(s), we save the money into a separate account for them, to be given to them when they are looking to buy.
As it happens, they both save lots of their salary anyway so we have never bothered to increase it as they progressed, as there seemed little point and both are now on far better money.
Even if you don't need the money, I think it's important they contribute. Rather than not charge them, just charge them and save the money for them.
That's quite nice of you As it happens, they both save lots of their salary anyway so we have never bothered to increase it as they progressed, as there seemed little point and both are now on far better money.
Even if you don't need the money, I think it's important they contribute. Rather than not charge them, just charge them and save the money for them.
From '99 to 2006, I paid my parents £120 a month. It was originally a third of my wages, but it didn't change as I earned more. I also covered the internet too, as it was a pricey package and I wanted it. It was more the principle, and I think an easy way for my dad to get a bit more income! Unlike others on here, I wasn't so lucky in that my dad paid it back to me when I bought my first house, ha!
For my first job I was paid £18 as a 'always available' seven-day-week stable hand in a small riding school. Board and keep was included and although promised a room in the house was given a small caravan in the back garden. After four months the owners started running out of money and took £10 a week back leaving just £8. They then took £5 back for taking me with them to town food shopping (included meals now stopped). They fired me after asking if I knew any other children in care who may be interested in a job and I said no.
The reason I mention this - now just nostalgic memory - is that it doesn't matter how much money you take off kids we bounce back. We're springy like that. Weren't you young once?
I could tell you more but still fuming over the cost of next Christmas's transfers to the Maldives and Muscat
The reason I mention this - now just nostalgic memory - is that it doesn't matter how much money you take off kids we bounce back. We're springy like that. Weren't you young once?
I could tell you more but still fuming over the cost of next Christmas's transfers to the Maldives and Muscat
devnull said:
From '99 to 2006, I paid my parents £120 a month. It was originally a third of my wages, but it didn't change as I earned more. I also covered the internet too, as it was a pricey package and I wanted it. It was more the principle, and I think an easy way for my dad to get a bit more income! Unlike others on here, I wasn't so lucky in that my dad paid it back to me when I bought my first house, ha!
Me neither, my mum pocketed most of it and wasn't paying a mortgage....she's always been tighter than a ducks arse and i've only ever been able to borrow money here and there, was never gifted a penny. I would say half my rent went on the extra food and utilities cost, and the other half went in her pocket.Fortunately I was only there for 5 months... I preferred to pay far more to a proper landlord than be stuck in the house i grew up in with a neurotic parent.
Lots of lucky kids in this thread!!
Not had a penny of any of my three !
Youngest is at Uni, costs us about a grand a month in rent and all the other demands for cash, he is on a fashion design course and all the materials, travel and services required are expensive, he has been to China, Japan, new York and Milan whilst he has been there.
Middle one was at Uni in Bath, then decided to stay down there and pays his own rent, but with the occasional help as he doesnt earn much.
Eldest was at home, apprentice for Thomas Cook, didnt take anything off him but had said that he would be paying £100 from September 2019, finally I thought, at nearly 24 will get some rent, but look what happened to TC. Ended up instead of getting £100 a month off him. paying his £225 a month car loan as he had to move and pay rent, also helped out with various other stuff so spent like three grand I reckon. He has been promoted so is paying his own car loan from next month.
He moaned and said instead he would buy the shopping once a week, we pointed out that we spend about £150 on average so he shut up then, I also told him I was paying £100 at my parents back in 1990.
Youngest is at Uni, costs us about a grand a month in rent and all the other demands for cash, he is on a fashion design course and all the materials, travel and services required are expensive, he has been to China, Japan, new York and Milan whilst he has been there.
Middle one was at Uni in Bath, then decided to stay down there and pays his own rent, but with the occasional help as he doesnt earn much.
Eldest was at home, apprentice for Thomas Cook, didnt take anything off him but had said that he would be paying £100 from September 2019, finally I thought, at nearly 24 will get some rent, but look what happened to TC. Ended up instead of getting £100 a month off him. paying his £225 a month car loan as he had to move and pay rent, also helped out with various other stuff so spent like three grand I reckon. He has been promoted so is paying his own car loan from next month.
He moaned and said instead he would buy the shopping once a week, we pointed out that we spend about £150 on average so he shut up then, I also told him I was paying £100 at my parents back in 1990.
Once I ceased being in full-time education, I paid around 15% of my take-home IIRC.
It wasn't a lot as I didn't earn much, but it taught me that the financial rewards of full time employment should not all be destined for the cash register in the pub.
I got it back when I got my own mortgage.
I can't fathom why anyone wouldn't charge their kids rent of some sort. Either to save for them for a wedding/house/whatever or to actually cover their costs.
You wouldn't have any other grown adult live with you rent and house-keeping free, so why your offspring?
It wasn't a lot as I didn't earn much, but it taught me that the financial rewards of full time employment should not all be destined for the cash register in the pub.
I got it back when I got my own mortgage.
I can't fathom why anyone wouldn't charge their kids rent of some sort. Either to save for them for a wedding/house/whatever or to actually cover their costs.
You wouldn't have any other grown adult live with you rent and house-keeping free, so why your offspring?
I got it all wrong then. When my daughter came back from university a couple of years ago and started work full time not only did we let her live rent free I also gave her £1300 a month to top up her salary.
Having said all that I knew she was a canny girl and was saving a massive chunk of what she was earning and tucking away my contribution as well. She purchased her own flat last year so is now off the payroll.
A right little spendthrift is my girl. Gets it from her grandmother, certainly not me or her mother. So if it had been the other way round and I was getting the cash I'd have probably blown the savings on another new toy.
Mind you the flat is having electrics done this week so she's back at home. I'll mention some rent tonight but happy to take payment in the form of bottles of Claret.
Having said all that I knew she was a canny girl and was saving a massive chunk of what she was earning and tucking away my contribution as well. She purchased her own flat last year so is now off the payroll.
A right little spendthrift is my girl. Gets it from her grandmother, certainly not me or her mother. So if it had been the other way round and I was getting the cash I'd have probably blown the savings on another new toy.
Mind you the flat is having electrics done this week so she's back at home. I'll mention some rent tonight but happy to take payment in the form of bottles of Claret.
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