Do children ever leave home nowadays?

bookduck

Patentgirl have a kind word tell him you want £300-£500 (start at £500 ) per month board and lodging and that you are going to put it into a isa (someone may recommend something better) for a mortgage for him.

Also that half of his overtime and pay increases will be out into the isa too. if the isa reaches its limit open one under you husbands name.

shays_mum

Never!, mine are so little & i could'nt imagine life without them not there giving me a headache .
But on a serious note, look at the economic position, i would'nt want them to rent/burden themselves with mortages (if they were one of the lucky ones!) up to their eyebrows

Mini_money_saver

Hello everyone!

I, like your son was in an trainee position(i'm 20 but was 19 when i was training), i worked as a trainee nursery nurse and worked 31 hours a week for £90 (works out to £2.90 and hour!!)I managed to run, tax and insure a car on this money (god knows how!)
Mum never charged me rent (i'd worked as an estate agent previously and earned £13,500 and my paretns asked for 10% of my take home pay each month, which depending on comission normally meant around £100 a month)
When i changed jobs to be a nursery nurse(Oct 2007) mum decided that getting £36 a month of off me for rent wasnt really going to make much difference to her so let it slip, as long as i paid rent when i qualified.

Once i qualified (Jan 2008) my take home pay was around £700 a month, but my bf and i had decided that we wanted to move out so i was financially worse off due to the fact that i was giving mum £70-100 rent per month and also saving £500 to move out. But i still managed to run the car and pay my phone bil etc

I think that by paying my parents rent and taking care of my own things such as saving for the house and paying for the car ect it made the transition to moving out less daunting..many of my friends that have moved out have struggled so much with finances as they didnt seem to realise how little money they would have after rent,bills,food etc or havent had any clue where to start with house work or cooking

I now really appreciate the fact that i have my own money to myself each month, even if it isnt very much, and that i know the bills can all be paid and that we live a very comfortable life.

IMO the best thing my parents did for me was to help me out when i needed it e.g they bought my first car(they are doing the same for my sister) and paid for my insurance which i then paid back in installments (it cost £800 to insure for the 1st year and i didnt have the money to pay for it nor could i pay it monthly, i was still at 6th form and working 12hours at weekends)
Me and my sister used to take it in turns to do the cooking few times a week, we did our own washing and laundry, just little things but without them i think i'd struggle now lol

My sister is 17 but i have no doubt she could look after herself and a home without much trouble.

Mnaybe mum teaching us these things was her way of getting rid of us.....:rotfl:


Mini_money_saver
xx

bookduck

shays_mum wrote: »

...But on a serious note, look at the economic position, i would'nt want them to rent/burden themselves with mortages (if they were one of the lucky ones!) up to their eyebrows

It is MUCH more advantageous and forgiving starting the mortgage ladder when you are younger, and if you make a mistake, or things go wrong you have much more time to get it right!

the current MSE isa interest rate is 3.51% and say you can afford £20 per week (cigarette money), over 15 year it becomes £20,082.33. Saying that the intresest rate will probably go up, so you could end up with much more.

At £300 per month over 5 years, becomes £19,308.74

Floss

JFC, I think you should sit down with your son & show him exactly how much the bills & housekeeping cost you each month. Even if you don't want to take anything off him, he should realise that even on £500 a month, life is not free. Apart from anything else, it is not really teaching him to manage his money - what will happen when he does eventually qualify & move out? Will he spend all his wages before paying his rent or gas bill, or will you come along & pay it for him so he can go out & enjoy himself? (As you are effectively doing this now by not charging even a token amount).

Maybe he could pay you what it costs for his packed lunches? Then you are easing your burden a little, and he will feel that he is contributing and will start to learn to manage his own budget.

JFC_2

Mini_money_saver wrote: »

Hello everyone!

I, like your son was in an trainee position(i'm 20 but was 19 when i was training), i worked as a trainee nursery nurse and worked 31 hours a week for £90 (works out to £2.90 and hour!!)I managed to run, tax and insure a car on this money (god knows how!)
Mum never charged me rent (i'd worked as an estate agent previously and earned £13,500 and my paretns asked for 10% of my take home pay each month, which depending on comission normally meant around £100 a month)
When i changed jobs to be a nursery nurse(Oct 2007) mum decided that getting £36 a month of off me for rent wasnt really going to make much difference to her so let it slip, as long as i paid rent when i qualified.

Once i qualified (Jan 2008) my take home pay was around £700 a month, but my bf and i had decided that we wanted to move out so i was financially worse off due to the fact that i was giving mum £70-100 rent per month and also saving £500 to move out. But i still managed to run the car and pay my phone bil etc

I think that by paying my parents rent and taking care of my own things such as saving for the house and paying for the car ect it made the transition to moving out less daunting..many of my friends that have moved out have struggled so much with finances as they didnt seem to realise how little money they would have after rent,bills,food etc or havent had any clue where to start with house work or cooking

I now really appreciate the fact that i have my own money to myself each month, even if it isnt very much, and that i know the bills can all be paid and that we live a very comfortable life.

IMO the best thing my parents did for me was to help me out when i needed it e.g they bought my first car(they are doing the same for my sister) and paid for my insurance which i then paid back in installments (it cost £800 to insure for the 1st year and i didnt have the money to pay for it nor could i pay it monthly, i was still at 6th form and working 12hours at weekends)
Me and my sister used to take it in turns to do the cooking few times a week, we did our own washing and laundry, just little things but without them i think i'd struggle now lol

My sister is 17 but i have no doubt she could look after herself and a home without much trouble.

Mnaybe mum teaching us these things was her way of getting rid of us.....:rotfl:


Mini_money_saver
xx

My sons insurance is over £2000! from Swintons and that was the best quote we could get. Male new driver under 21

shellsuit

Can I be really nosey and ask if JFC = Jxxxx from Crawley?

If so, are you the same JFC from the RT? I used to go on there years ago and remember you, I'm not a mad stalker so don't worry lol! x

You're a brill Mum & a lovely person (I remember your family posts on RT), that's why they don't and won't leave your nest!

Oh P.S. If you're not who i mean, then ignore me lol

JFC_2

Yep...its one and the same...which one are you from the RT

Thanks for the lovely words shell

xxxx

shellsuit

JFC wrote: »

Yep...its one and the same...which one are you from the RT

Thanks for the lovely words shell

xxxx

I haven't been on those boards in a longggg time, I mainly used the Nags ~ I was *ribbon-in-the-sky* , you probably wouldn't remember me though, it's just I'm like an elephant, I never forget (a username) x

Mini_money_saver

JFC :eek: OMG what cars has your son got for it to cost that much!!!