How much should I charge for my son & daughter @ home (age 23, 20)

paulchef1

Hi,

When I lived at home my mum "charged" me 1/3rd of any take home pay, be it income support or a £16000 a year salary, and I did my share of the chores, too.
Certainly helped me get a perspecive on life that you have to pay a lot more to not live at home with family.
I can still hear her saying, "This is not a hotel!!!!!!!"

Also it's very easy for children to take advantage of parents in this day and age, I'm not saying yours are by the way, when it seems like a crime for children to have any responsibility/accountability and have to actually go without something in life. :mad:

Ultimately only you know what you're comfortable with.

Good luck

furndire

Charge them a third, but if you think its too harsh, put some of it into a savings account (unbeknown to them - otherwise they'll probably be subbing) so then when they do eventually leave, you will have something to give them to start their new home, and in the meanwhile, they will have also been learning a valuable lesson on how to manage their money, and they will hopefully not get into the horrible debt mess. You are not doing children any favours by not charging them enough. They get an unrealistic view of how much things cost and then don't know how to manage. Make sure you let them see just how much the bills are. Harsh, but true.

mikey-mike_2

I'd start at £30 a week and increase it by a tenner a week until they leave!!

Tiggerwoos

When I was 16 (10 years ago) and earning £8k a year I was paying £200 per month so definitely £250 nowadays.

Sounds a bit tough, but it taught me the value of money and I respected my parents for it.

robnye

having read and had several discussions with people about this very subject....... the best is the thirds one
1/3 for housekeeping
1/3 for spending
1/3 for saving.

if you dont need all of the 1/3 contribution, then you could opena a savings account and put some of it into there (without telling them) and then give it back at some point in the future - ie car, house deposit etc

Alan50

I am undercharging, so an increase is due to be made (£40.00/week) Thankfully they do save, and have not asked me for money.
The (third/third/third) is interesting but not for me at the moment.
Thanks again...Alan

lil_me

I paid 1/3 of my wages regardless to how much I earned, then more if I could afford it. Did me no harm and prepared me much more for the real world than most friends who paid a very small amount.

lottee

Alan50 wrote:

I currently charge them £30.00 per week for everything in:
?

WOW, when can I move in !!!??? That's a great deal !

I agree with everyone else around 1/3 of their monthly income. If you don't feel that comfortable taking it, maybe you could put the extra into a savings account, then when they finally leave, you could help them out with a deposit.

20 & 23, omg I was hoping my son would be gone at 16 !!! Either that or I will go !!!:rotfl:

hopingforahouse

furndire wrote:

Charge them a third, but if you think its too harsh, put some of it into a savings account (unbeknown to them - otherwise they'll probably be subbing) so then when they do eventually leave, you will have something to give them to start their new home, and in the meanwhile, they will have also been learning a valuable lesson on how to manage their money, and they will hopefully not get into the horrible debt mess. You are not doing children any favours by not charging them enough. They get an unrealistic view of how much things cost and then don't know how to manage. Make sure you let them see just how much the bills are. Harsh, but true.

I would second this, I think this is a great idea. Charge them a third each of the outgoings, but if you feel you don't need all this cash then put some away for them every week/ month. When they do start to look for somewhere to buy/ rent etc, they will have a nice bit of surprise cash to put towards a deposit, fees, furniture or whatever. Also if you give it to them too easy they might end up being 40 and still living at home! ARRGGGHH!

Prudent

I think you are being decent and fair to them. I guess it would depend on how long they intend to stay at home and if they are saving for a future move. If this is just a period to help them get on their feed then I think you rea giving them the support they need. If they are still at home in 5 years perhaps you may want them to have make payments that reflect costs.