working children paying keep - how much?

swizzle_2

When i started work- 20 years ago- help i`m getting old i paid £10 a week and I earned £56 a week , so I would say 20 % of take home pay is about right.

I am planning to charge mine that, but plan to save 1/2 of it towards a flat/house deposit for them-unknown to them. I will also encourage them to save 10% at least. Living at home is cheap compared to the `real world`, plus they get washing and ironing for that!!

tru

My son takes home £140 per week, he pays me £30.

ooobedoo

One of my friends was charged £160 a month(where can you live for £40 a week) and then when she moved out, the money she had been paying for all this time had been in a saving account, so she was able to put it towards a deposit. This is every childs dream I am sure!

kittykate_2

I keep asking my mum what she wants but she always avoids the question by saying "needs to think about it". I'm feeling a bit weird about it as I've been home from finishing uni a couple of months and still not paid anything and I feel like a scab or something. I want to give her some money but I don't know how much. I earn between £550 and £700 a month, depends on how much overtime I can fight for at work. What do you think a reasonable amount would be?

Sorry if this is a big of a hikacking thread post but I thought it better in here where people know about it.

KKx

morley_2

Thanks for all your replies, plenty to think about. we were thinking of £160 per month.

viktory

Before DD legged it we used to take a third of her take home pay - and it was a bloody bargain (for her, not us ). However DS is working through his holidays and earning good money but we take nothing from him - he is only 15.

musey

I got my 1st job (paper round) when I was 10 (OMG that was 26 yrs ago!!!) and I got paid £1.50pw from that I gave my mom 50p per week. I moved onto a Saturday job at 13 and earnt £12.50pw of that I gave my mom £4 per week. When I started working full time I gave my mom 35% of my net wage. I believe this upbringing really helped me value money, consequently I have never gotten into debt. I bought my 1st BTL property for cash from savings in 1996 and now own 8. Whilst I appreciate many BTLers would scoff at me I am proud to say I only have a mortgage of £55,000 on my BTL portfolio.

Gorgeous_George

One third is fair. Any more and they may think it's hardly worth working. Any less and they might be with you forever.

If you don't need the money, it's nice to be able to secretly save it for them. In reality, you're saving YOUR money, not his/her board and lodging. The money they give you is spent in full, and then some, every week that they are living at your home eating your food and being pampered by you (washing, ironing etc.).



GG

Gorgeous_George

musey wrote:

Whilst I appreciate many BTLers would scoff at me I am proud to say I only have a mortgage of £55,000 on my BTL portfolio.

Scoff scoff.

That must be a hefty tax bill. Hope you don't have a residential mortgage or you know of other ways to minimise tax liability.



GG

ac89

My daughter finished A levels this year and is working as a waitress until a better job turns up.I think she should start contributing to the household budget now and also begin to do a few jobs round the house to help. At present she is earning around £500 per month but pays out £150 to cover car insurance /car tax/ repairs etc and £35 for her mobile phone.I thought a sensible amount to ask for was £100 BUT if she fails to do any housework (very likely!) raise it to £150.Does this seem reasonable? Has anyone who has had experience of this with their children able to advise?
thanks,ac89